Jones Financial Companies Lllp Has $24.48 Million Holdings in Manulife Financial Corp $MFC

Jones Financial Companies Lllp boosted its stake in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 14.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 795,156 shares of the financial services provider’s stock after buying an additional 98,489 shares during the period. Jones Financial Companies Lllp’s holdings in Manulife Financial were worth $24,477,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MFC. Root Financial Partners LLC bought a new position in shares of Manulife Financial during the third quarter valued at $25,000. Caldwell Trust Co acquired a new stake in shares of Manulife Financial during the 2nd quarter worth about $27,000. Eastern Bank lifted its holdings in Manulife Financial by 156.1% during the 2nd quarter. Eastern Bank now owns 968 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 590 shares during the last quarter. Winnow Wealth LLC bought a new position in Manulife Financial during the 2nd quarter valued at about $38,000. Finally, Goodman Advisory Group LLC acquired a new position in Manulife Financial in the second quarter valued at about $39,000. 52.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Morgan Stanley set a $51.00 target price on shares of Manulife Financial in a research note on Monday, December 15th. UBS Group started coverage on Manulife Financial in a report on Thursday, October 16th. They set a “buy” rating for the company. Weiss Ratings raised Manulife Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, January 29th. Royal Bank Of Canada increased their target price on Manulife Financial from $49.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Manulife Financial in a report on Friday, November 14th. Two analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $51.50.

Manulife Financial Stock Down 0.9%

MFC stock opened at $38.04 on Wednesday. Manulife Financial Corp has a twelve month low of $25.92 and a twelve month high of $38.72. The company has a market cap of $63.79 billion, a P/E ratio of 16.90 and a beta of 0.83. The business has a fifty day moving average of $36.48 and a 200-day moving average of $33.39.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, November 12th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.10. The business had revenue of $12.90 billion for the quarter. Manulife Financial had a return on equity of 16.11% and a net margin of 9.81%.During the same quarter in the prior year, the business earned $1.00 EPS. As a group, equities research analysts anticipate that Manulife Financial Corp will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Wednesday, November 26th were given a dividend of $0.44 per share. The ex-dividend date was Wednesday, November 26th. This represents a $1.76 annualized dividend and a dividend yield of 4.6%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.32. Manulife Financial’s dividend payout ratio is presently 55.56%.

Manulife Financial Company Profile

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.