Tiaa Fsb purchased a new stake in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 14,786 shares of the financial services provider’s stock, valued at approximately $277,000.

Other institutional investors also recently made changes to their positions in the company. D.A. Davidson & CO. grew its holdings in shares of Manulife Financial Corp by 17.5% during the 2nd quarter. D.A. Davidson & CO. now owns 6,768 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 1,010 shares during the last quarter. Sadoff Investment Management LLC bought a new stake in shares of Manulife Financial Corp during the 2nd quarter valued at approximately $188,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Manulife Financial Corp by 25.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,284 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 2,103 shares during the last quarter. YHB Investment Advisors Inc. bought a new stake in shares of Manulife Financial Corp during the 2nd quarter valued at approximately $202,000. Finally, Davis Rea Ltd. bought a new stake in shares of Manulife Financial Corp during the 2nd quarter valued at approximately $207,000. 45.96% of the stock is currently owned by institutional investors.

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Several brokerages recently issued reports on MFC. ValuEngine lowered shares of Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a report on Monday, September 18th. Zacks Investment Research lowered shares of Manulife Financial Corp from a “buy” rating to a “hold” rating in a report on Monday, September 11th. Finally, BidaskClub raised shares of Manulife Financial Corp from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $23.33.

Shares of Manulife Financial Corp (MFC) opened at 20.03 on Monday. The company’s 50 day moving average is $19.84 and its 200 day moving average is $18.55. Manulife Financial Corp has a one year low of $13.53 and a one year high of $20.84. The company has a market capitalization of $39.62 billion, a price-to-earnings ratio of 13.29 and a beta of 1.30.

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, August 9th. The financial services provider reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The company had revenue of $12.34 billion during the quarter, compared to analysts’ expectations of $16.09 billion. During the same period in the prior year, the business earned $0.40 earnings per share. Equities research analysts predict that Manulife Financial Corp will post $1.81 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Shareholders of record on Tuesday, August 22nd were paid a dividend of $0.1621 per share. The ex-dividend date was Friday, August 18th. This is an increase from Manulife Financial Corp’s previous quarterly dividend of $0.15. This represents a $0.65 annualized dividend and a dividend yield of 3.24%. Manulife Financial Corp’s dividend payout ratio (DPR) is 47.83%.

Manulife Financial Corp Company Profile

Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.

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Institutional Ownership by Quarter for Manulife Financial Corp (NYSE:MFC)

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