Financial & Tax Architects LLC Takes Position in Manulife Financial Corp $MFC

Financial & Tax Architects LLC acquired a new stake in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 14,949 shares of the financial services provider’s stock, valued at approximately $515,000.

Several other large investors have also modified their holdings of the stock. Basepoint Wealth LLC purchased a new stake in Manulife Financial in the fourth quarter valued at approximately $25,000. Hantz Financial Services Inc. acquired a new position in Manulife Financial during the fourth quarter worth approximately $28,000. Sfam LLC purchased a new position in Manulife Financial during the fourth quarter worth approximately $28,000. Heritage Wealth Advisors purchased a new position in Manulife Financial during the fourth quarter worth approximately $30,000. Finally, Blueline Advisors LLC acquired a new position in shares of Manulife Financial in the 4th quarter valued at $34,000. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Manulife Financial Price Performance

NYSE:MFC opened at $40.51 on Wednesday. The business’s 50-day moving average is $39.20 and its two-hundred day moving average is $37.22. The firm has a market capitalization of $67.61 billion, a PE ratio of 16.08 and a beta of 0.84. Manulife Financial Corp has a 12 month low of $29.70 and a 12 month high of $41.43.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, May 13th. The financial services provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.02). Manulife Financial had a return on equity of 16.58% and a net margin of 10.19%.The company had revenue of $8.89 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the previous year, the company earned $0.99 EPS. Equities analysts anticipate that Manulife Financial Corp will post 3.2 EPS for the current year.

Manulife Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, May 29th were given a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.94 annualized dividend and a yield of 4.8%. Manulife Financial’s payout ratio is 56.75%.

Analyst Upgrades and Downgrades

MFC has been the subject of several research reports. Weiss Ratings raised shares of Manulife Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, May 28th. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research report on Wednesday, April 29th. Finally, TD Securities reaffirmed a “buy” rating on shares of Manulife Financial in a research report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat.com, Manulife Financial currently has a consensus rating of “Buy” and a consensus price target of $51.50.

About Manulife Financial

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.