4,079 Shares in Manulife Financial Corp (NYSE:MFC) Acquired by Headlands Technologies LLC

Headlands Technologies LLC purchased a new position in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) during the 1st quarter, HoldingsChannel reports. The firm purchased 4,079 shares of the financial services provider’s stock, valued at approximately $127,000.

Several other hedge funds have also made changes to their positions in the stock. Deutsche Bank AG lifted its holdings in shares of Manulife Financial by 8.7% in the 1st quarter. Deutsche Bank AG now owns 2,837,989 shares of the financial services provider’s stock worth $88,403,000 after purchasing an additional 227,979 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new stake in shares of Manulife Financial in the 1st quarter worth approximately $2,187,000. Vanguard Group Inc. lifted its holdings in shares of Manulife Financial by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 74,333,649 shares of the financial services provider’s stock worth $2,316,162,000 after purchasing an additional 369,638 shares during the last quarter. Thoroughbred Financial Services LLC lifted its holdings in shares of Manulife Financial by 24.2% in the 1st quarter. Thoroughbred Financial Services LLC now owns 18,113 shares of the financial services provider’s stock worth $564,000 after purchasing an additional 3,524 shares during the last quarter. Finally, Blair William & Co. IL lifted its holdings in shares of Manulife Financial by 1.9% in the 1st quarter. Blair William & Co. IL now owns 19,878 shares of the financial services provider’s stock worth $619,000 after purchasing an additional 377 shares during the last quarter. Institutional investors own 52.56% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on MFC. Royal Bank Of Canada cut their target price on Manulife Financial from $51.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday. Morgan Stanley set a $46.00 target price on Manulife Financial in a research note on Monday, May 19th.

Manulife Financial Price Performance

Shares of Manulife Financial stock opened at $29.89 on Tuesday. The business’s fifty day moving average price is $31.16 and its two-hundred day moving average price is $30.55. The company has a market capitalization of $50.76 billion, a P/E ratio of 13.34, a PEG ratio of 1.02 and a beta of 1.01. Manulife Financial Corp has a 1-year low of $24.94 and a 1-year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.02). The business had revenue of $11.30 billion for the quarter. Manulife Financial had a net margin of 10.46% and a return on equity of 15.77%. During the same quarter in the prior year, the firm earned $0.91 earnings per share. On average, research analysts expect that Manulife Financial Corp will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Wednesday, August 20th will be given a dividend of $0.3199 per share. This is a boost from Manulife Financial’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, August 20th. This represents a $1.28 annualized dividend and a dividend yield of 4.3%. Manulife Financial’s payout ratio is 57.14%.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.