Dimensional Fund Advisors LP Grows Stake in Manulife Financial Co. (MFC)
Dimensional Fund Advisors LP lifted its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,779,423 shares of the financial services provider’s stock after purchasing an additional 57,411 shares during the period. Dimensional Fund Advisors LP owned about 0.24% of Manulife Financial worth $85,886,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in MFC. Oppenheimer & Co. Inc. acquired a new stake in Manulife Financial during the first quarter worth approximately $316,000. SG Americas Securities LLC grew its stake in Manulife Financial by 34.9% during the first quarter. SG Americas Securities LLC now owns 91,710 shares of the financial services provider’s stock worth $1,704,000 after purchasing an additional 23,738 shares during the period. M&T Bank Corp grew its stake in Manulife Financial by 16.3% during the first quarter. M&T Bank Corp now owns 51,911 shares of the financial services provider’s stock worth $964,000 after purchasing an additional 7,291 shares during the period. Sawtooth Solutions LLC acquired a new stake in Manulife Financial during the first quarter worth approximately $202,000. Finally, Aperio Group LLC grew its stake in Manulife Financial by 8.6% during the first quarter. Aperio Group LLC now owns 458,757 shares of the financial services provider’s stock worth $8,524,000 after purchasing an additional 36,452 shares during the period. 46.14% of the stock is owned by institutional investors and hedge funds.
Several research firms recently commented on MFC. Zacks Investment Research cut Manulife Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Evercore ISI began coverage on Manulife Financial in a research note on Tuesday, July 10th. They set an “in-line” rating for the company. ValuEngine cut Manulife Financial from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 2nd. Finally, Morgan Stanley decreased their target price on Manulife Financial from $27.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $26.33.
Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, August 8th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.21. The business had revenue of $10.59 billion for the quarter. Manulife Financial had a return on equity of 12.69% and a net margin of 4.22%. During the same quarter in the previous year, the company posted $0.57 EPS. equities analysts expect that Manulife Financial Co. will post 2.03 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 19th. Shareholders of record on Tuesday, August 21st will be issued a $0.169 dividend. The ex-dividend date is Monday, August 20th. This represents a $0.68 annualized dividend and a yield of 3.85%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.13. Manulife Financial’s dividend payout ratio is presently 39.77%.
Manulife Financial Profile
Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance through insurance agents, brokers, banks, financial planners, and direct marketing.
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