Entropy Technologies LP Takes Position in Manulife Financial Corp $MFC

Entropy Technologies LP purchased a new stake in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 49,657 shares of the financial services provider’s stock, valued at approximately $1,587,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Manulife Financial by 2.7% in the second quarter. Vanguard Group Inc. now owns 76,336,875 shares of the financial services provider’s stock valued at $2,440,795,000 after acquiring an additional 2,003,226 shares during the period. TD Asset Management Inc grew its holdings in Manulife Financial by 6.6% during the 1st quarter. TD Asset Management Inc now owns 37,093,064 shares of the financial services provider’s stock valued at $1,155,639,000 after purchasing an additional 2,289,205 shares during the last quarter. 1832 Asset Management L.P. raised its position in Manulife Financial by 7.3% in the 1st quarter. 1832 Asset Management L.P. now owns 24,425,465 shares of the financial services provider’s stock worth $760,853,000 after purchasing an additional 1,660,626 shares during the period. Geode Capital Management LLC raised its position in Manulife Financial by 19.4% in the 2nd quarter. Geode Capital Management LLC now owns 14,008,595 shares of the financial services provider’s stock worth $453,798,000 after purchasing an additional 2,276,251 shares during the period. Finally, Bank of Nova Scotia lifted its stake in Manulife Financial by 7.2% in the first quarter. Bank of Nova Scotia now owns 13,990,810 shares of the financial services provider’s stock worth $436,007,000 after purchasing an additional 937,794 shares during the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Trading Up 2.0%

MFC opened at $34.54 on Friday. The company has a market capitalization of $58.20 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.13 and a beta of 0.98. Manulife Financial Corp has a 12-month low of $25.92 and a 12-month high of $35.57. The business’s fifty day simple moving average is $32.38 and its 200-day simple moving average is $31.55.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, November 12th. The financial services provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.10. Manulife Financial had a net margin of 10.46% and a return on equity of 15.77%. The company had revenue of $12.90 billion during the quarter. During the same period last year, the company earned $1.00 earnings per share. On average, equities research analysts predict that Manulife Financial Corp will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Wednesday, November 26th will be paid a dividend of $0.44 per share. This is a boost from Manulife Financial’s previous quarterly dividend of $0.32. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Wednesday, November 26th. Manulife Financial’s payout ratio is 55.56%.

Analyst Ratings Changes

MFC has been the topic of several recent analyst reports. Morgan Stanley set a $47.00 price target on Manulife Financial in a report on Tuesday, October 7th. UBS Group initiated coverage on Manulife Financial in a research note on Thursday, October 16th. They issued a “buy” rating on the stock. BMO Capital Markets reiterated an “outperform” rating on shares of Manulife Financial in a research report on Friday, November 14th. Weiss Ratings cut shares of Manulife Financial from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, November 17th. Finally, Royal Bank Of Canada lifted their price objective on shares of Manulife Financial from $49.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, November 14th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Manulife Financial presently has an average rating of “Buy” and a consensus target price of $49.50.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.