New York State Common Retirement Fund Acquires Shares of 187,614 Manulife Financial Co. (MFC)
New York State Common Retirement Fund acquired a new stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 187,614 shares of the financial services provider’s stock, valued at approximately $2,662,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Letko Brosseau & Associates Inc. increased its holdings in Manulife Financial by 10.1% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 21,439,119 shares of the financial services provider’s stock valued at $304,053,000 after buying an additional 1,964,748 shares in the last quarter. Seacliff Capital LLC acquired a new stake in shares of Manulife Financial in the fourth quarter valued at about $3,548,000. Acadian Asset Management LLC grew its position in shares of Manulife Financial by 2,307.7% in the fourth quarter. Acadian Asset Management LLC now owns 9,703 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 9,300 shares during the period. LPL Financial LLC grew its position in shares of Manulife Financial by 9.8% in the fourth quarter. LPL Financial LLC now owns 47,459 shares of the financial services provider’s stock valued at $673,000 after purchasing an additional 4,224 shares during the period. Finally, BancorpSouth Bank grew its position in shares of Manulife Financial by 8.8% in the fourth quarter. BancorpSouth Bank now owns 123,055 shares of the financial services provider’s stock valued at $1,746,000 after purchasing an additional 9,905 shares during the period. 48.03% of the stock is owned by institutional investors.
A number of equities analysts recently weighed in on the stock. TheStreet upgraded shares of Manulife Financial from a “c+” rating to a “b-” rating in a research report on Friday, November 30th. ValuEngine upgraded shares of Manulife Financial from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. Zacks Investment Research lowered shares of Manulife Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, January 14th. Finally, Barclays reiterated a “buy” rating on shares of Manulife Financial in a report on Thursday, January 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $24.33.
Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, February 13th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.15. The business had revenue of $6.44 billion for the quarter. Manulife Financial had a net margin of 12.34% and a return on equity of 13.51%. During the same period last year, the firm posted $0.59 earnings per share. Equities research analysts predict that Manulife Financial Co. will post 2.19 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, February 27th were paid a $0.1883 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend was Tuesday, February 26th. Manulife Financial’s dividend payout ratio (DPR) is 36.02%.
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Manulife Financial Profile
Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.
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