Jones Collombin Investment Counsel Inc Has $10,450,000 Position in Manulife Financial Corp. (MFC)
Jones Collombin Investment Counsel Inc decreased its position in shares of Manulife Financial Corp. (NYSE:MFC) (TSE:MFC) by 8.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 741,072 shares of the company’s stock after selling 71,200 shares during the period. Manulife Financial Corp. accounts for about 3.3% of Jones Collombin Investment Counsel Inc’s holdings, making the stock its 15th largest position. Jones Collombin Investment Counsel Inc’s holdings in Manulife Financial Corp. were worth $10,450,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of MFC. K.J. Harrison & Partners Inc acquired a new stake in shares of Manulife Financial Corp. during the second quarter worth about $436,000. Shell Asset Management Co. raised its position in Manulife Financial Corp. by 1.6% in the second quarter. Shell Asset Management Co. now owns 260,321 shares of the company’s stock valued at $4,600,000 after buying an additional 4,170 shares in the last quarter. Davis Rea LTD. purchased a new position in Manulife Financial Corp. during the second quarter valued at $142,000. DORCHESTER WEALTH MANAGEMENT Co raised its position in Manulife Financial Corp. by 6.8% in the second quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 327,735 shares of the company’s stock valued at $4,483,000 after buying an additional 21,010 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in Manulife Financial Corp. by 388.2% in the second quarter. Acadian Asset Management LLC now owns 33,200 shares of the company’s stock valued at $452,000 after buying an additional 26,400 shares in the last quarter. 48.50% of the stock is currently owned by institutional investors and hedge funds.
Manulife Financial Corp. (NYSE:MFC) traded up 2.15% during midday trading on Wednesday, reaching $17.55. The company’s stock had a trading volume of 1,263,241 shares. The firm has a market capitalization of $34.63 billion, a PE ratio of 15.70 and a beta of 1.51. Manulife Financial Corp. has a 52 week low of $10.99 and a 52 week high of $17.71. The stock has a 50 day moving average of $15.42 and a 200 day moving average of $14.25.
Manulife Financial Corp. (NYSE:MFC) last issued its earnings results on Thursday, November 10th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.15. Manulife Financial Corp. had a return on equity of 9.05% and a net margin of 4.63%. During the same period in the prior year, the company earned $0.43 EPS. On average, equities research analysts predict that Manulife Financial Corp. will post $1.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Tuesday, November 22nd will be paid a $0.138 dividend. The ex-dividend date is Friday, November 18th. This represents a $0.55 dividend on an annualized basis and a yield of 3.21%. Manulife Financial Corp.’s dividend payout ratio (DPR) is currently 49.11%.
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Several research firms have recently weighed in on MFC. Zacks Investment Research raised Manulife Financial Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, November 15th. Dundee Securities began coverage on Manulife Financial Corp. in a research note on Wednesday, September 21st. They issued a “buy” rating on the stock. TD Securities reaffirmed a “hold” rating and issued a $19.00 price objective on shares of Manulife Financial Corp. in a research note on Wednesday, August 10th. CIBC lowered Manulife Financial Corp. from a “sector outperform” rating to a “sector perform” rating in a research note on Thursday, August 4th. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating on shares of Manulife Financial Corp. in a research note on Monday, November 14th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Manulife Financial Corp. currently has a consensus rating of “Buy” and an average target price of $22.38.
About Manulife Financial Corp.
Manulife Financial Corporation (MFC) is a life insurance company. The Company is a holding company of The Manufacturers Life Insurance Company (MLI), a Canadian life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), a Bermuda reinsurance company. The Company’s segments, including Asia Division, Canadian Division, U.S.
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