Fiera Capital Corp Sells 610,220 Shares of Manulife Financial Corp (MFC)
Fiera Capital Corp trimmed its holdings in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 5.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,789,799 shares of the financial services provider’s stock after selling 610,220 shares during the period. Fiera Capital Corp owned approximately 0.50% of Manulife Financial Corp worth $183,196,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in MFC. Causeway Capital Management LLC grew its stake in Manulife Financial Corp by 196.6% in the 1st quarter. Causeway Capital Management LLC now owns 15,761,517 shares of the financial services provider’s stock valued at $279,609,000 after buying an additional 10,447,098 shares in the last quarter. FMR LLC grew its stake in Manulife Financial Corp by 14.8% in the 1st quarter. FMR LLC now owns 41,809,722 shares of the financial services provider’s stock valued at $741,656,000 after buying an additional 5,378,760 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Manulife Financial Corp by 651.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,888,701 shares of the financial services provider’s stock valued at $110,471,000 after purchasing an additional 5,105,478 shares during the period. Wellington Management Group LLP boosted its holdings in Manulife Financial Corp by 51.9% in the 1st quarter. Wellington Management Group LLP now owns 14,767,058 shares of the financial services provider’s stock valued at $261,385,000 after purchasing an additional 5,046,441 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in Manulife Financial Corp in the 2nd quarter valued at $64,849,000. Institutional investors and hedge funds own 45.97% of the company’s stock.
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Shares of Manulife Financial Corp (MFC) traded up 0.51% on Tuesday, reaching $19.86. 765,565 shares of the company’s stock traded hands. Manulife Financial Corp has a 52-week low of $13.38 and a 52-week high of $20.84. The firm’s 50-day moving average is $19.95 and its 200-day moving average is $18.46. The stock has a market cap of $39.28 billion, a price-to-earnings ratio of 13.75 and a beta of 1.30.
Manulife Financial Corp (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, August 9th. The financial services provider reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The company had revenue of $12.34 billion for the quarter, compared to analysts’ expectations of $16.09 billion. During the same period in the previous year, the business posted $0.40 earnings per share. Analysts anticipate that Manulife Financial Corp will post $1.85 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Tuesday, August 22nd will be paid a dividend of $0.1621 per share. This represents a $0.65 annualized dividend and a yield of 3.28%. This is a boost from Manulife Financial Corp’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, August 18th. Manulife Financial Corp’s dividend payout ratio (DPR) is presently 47.83%.
Several research analysts have commented on the stock. Zacks Investment Research downgraded shares of Manulife Financial Corp from a “buy” rating to a “hold” rating in a report on Monday. BidaskClub raised shares of Manulife Financial Corp from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, ValuEngine downgraded shares of Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $23.33.
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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