Investment Centers of America Inc. purchased a new stake in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 10,599 shares of the financial services provider’s stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors have also bought and sold shares of MFC. Harbour Capital Advisors LLC boosted its holdings in shares of Manulife Financial by 1,597.1% in the 2nd quarter. Harbour Capital Advisors LLC now owns 42,004 shares of the financial services provider’s stock valued at $2,239,000 after buying an additional 39,529 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Manulife Financial by 41.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 24,299 shares of the financial services provider’s stock valued at $456,000 after buying an additional 7,175 shares during the period. Bessemer Group Inc. boosted its stake in Manulife Financial by 0.9% during the 2nd quarter. Bessemer Group Inc. now owns 29,736 shares of the financial services provider’s stock valued at $558,000 after purchasing an additional 261 shares during the period. YHB Investment Advisors Inc. acquired a new position in Manulife Financial during the 2nd quarter valued at about $202,000. Finally, Endurance Wealth Management Inc. boosted its stake in Manulife Financial by 1.8% during the 2nd quarter. Endurance Wealth Management Inc. now owns 118,950 shares of the financial services provider’s stock valued at $2,232,000 after purchasing an additional 2,150 shares during the period. 46.55% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Corp (NYSE MFC) opened at $21.27 on Friday. The stock has a market cap of $41,634.90, a PE ratio of 12.16, a price-to-earnings-growth ratio of 1.27 and a beta of 1.33. Manulife Financial Corp has a one year low of $16.62 and a one year high of $21.69.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Tuesday, November 21st will be paid a dividend of $0.1606 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Monday, November 20th. Manulife Financial’s payout ratio is 45.71%.

A number of research firms have issued reports on MFC. Zacks Investment Research lowered shares of Manulife Financial from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. Morgan Stanley boosted their target price on shares of Manulife Financial from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, October 5th. Finally, ValuEngine lowered shares of Manulife Financial from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 18th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $25.00.

COPYRIGHT VIOLATION WARNING: This news story was posted by Daily Political and is the property of of Daily Political. If you are accessing this news story on another publication, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The legal version of this news story can be accessed at https://www.dailypolitical.com/2017/12/02/investment-centers-of-america-inc-purchases-shares-of-10599-manulife-financial-corp-mfc.html.

Manulife Financial Company Profile

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.

Institutional Ownership by Quarter for Manulife Financial (NYSE:MFC)

Receive News & Ratings for Manulife Financial Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manulife Financial Corp and related companies with MarketBeat.com's FREE daily email newsletter.