Investment Centers of America Inc. Purchases Shares of 10,599 Manulife Financial Corp (MFC)
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.
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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.
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