Manulife Financial Corp (MFC) Holdings Boosted by Zurcher Kantonalbank Zurich Cantonalbank
Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,919,203 shares of the financial services provider’s stock after buying an additional 22,847 shares during the quarter. Manulife Financial Corp makes up approximately 0.5% of Zurcher Kantonalbank Zurich Cantonalbank’s investment portfolio, making the stock its 29th largest position. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.15% of Manulife Financial Corp worth $59,077,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Ropes Wealth Advisors LLC acquired a new position in shares of Manulife Financial Corp in the second quarter valued at approximately $103,000. D.A. Davidson & CO. grew its position in shares of Manulife Financial Corp by 17.5% in the second 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 acquired a new position in shares of Manulife Financial Corp in the second quarter valued at approximately $188,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Manulife Financial Corp by 25.7% in the second 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. Finally, YHB Investment Advisors Inc. acquired a new position in shares of Manulife Financial Corp in the second quarter valued at approximately $202,000. 46.68% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on the company. Morgan Stanley upped their target price on Manulife Financial Corp from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, October 5th. ValuEngine downgraded Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 18th. Finally, Zacks Investment Research downgraded Manulife Financial Corp from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $25.00.
Manulife Financial Corp (NYSE:MFC) traded down $0.20 during trading on Tuesday, hitting $20.90. The stock had a trading volume of 1,672,500 shares, compared to its average volume of 2,383,215. The firm has a market capitalization of $41,360.00, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 1.26 and a beta of 1.31. Manulife Financial Corp has a 52 week low of $16.62 and a 52 week high of $21.69.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Investors of record on Tuesday, November 21st will be given a dividend of $0.1606 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Monday, November 20th. Manulife Financial Corp’s dividend payout ratio is currently 46.15%.
About Manulife Financial Corp
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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