Rathbones Group PLC Has $3.04 Million Stake in Manulife Financial Co. (NYSE:MFC)

Rathbones Group PLC lowered its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 2.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 114,150 shares of the financial services provider’s stock after selling 2,500 shares during the period. Rathbones Group PLC’s holdings in Manulife Financial were worth $3,039,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MFC. Hoge Financial Services LLC raised its holdings in shares of Manulife Financial by 5.0% during the 2nd quarter. Hoge Financial Services LLC now owns 30,399 shares of the financial services provider’s stock valued at $809,000 after purchasing an additional 1,435 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in Manulife Financial by 1.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 201,873 shares of the financial services provider’s stock worth $5,374,000 after buying an additional 2,245 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Manulife Financial by 2.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 2,145,519 shares of the financial services provider’s stock valued at $56,662,000 after buying an additional 56,677 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Manulife Financial by 130.6% in the second quarter. Oppenheimer & Co. Inc. now owns 54,049 shares of the financial services provider’s stock worth $1,439,000 after buying an additional 30,614 shares during the last quarter. Finally, D Orazio & Associates Inc. bought a new stake in shares of Manulife Financial during the 2nd quarter worth about $239,000. Institutional investors own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. TD Securities raised their price target on Manulife Financial from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Barclays started coverage on Manulife Financial in a research report on Thursday, September 5th. They set an “equal weight” rating for the company. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.67.

Manulife Financial Stock Up 0.5 %

MFC stock opened at $28.08 on Monday. Manulife Financial Co. has a twelve month low of $17.07 and a twelve month high of $28.17. The company has a market cap of $49.70 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08. The business’s 50-day simple moving average is $26.45 and its 200 day simple moving average is $25.46.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.27. The company had revenue of $9.41 billion during the quarter, compared to the consensus estimate of $8.95 billion. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. During the same quarter last year, the company earned $0.62 EPS. On average, equities research analysts anticipate that Manulife Financial Co. will post 2.72 EPS for the current year.

Manulife Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Wednesday, August 21st. Manulife Financial’s dividend payout ratio (DPR) is presently 67.44%.

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.