Sachetta LLC Has $96,000 Stock Holdings in Manulife Financial Corp $MFC

Sachetta LLC lifted its position in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 15.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,005 shares of the financial services provider’s stock after purchasing an additional 396 shares during the period. Sachetta LLC’s holdings in Manulife Financial were worth $96,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. RMG Wealth Management LLC acquired a new position in shares of Manulife Financial during the 2nd quarter worth about $65,000. Belpointe Asset Management LLC bought a new stake in shares of Manulife Financial during the 2nd quarter worth about $200,000. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Manulife Financial by 9.8% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 10,719 shares of the financial services provider’s stock worth $343,000 after buying an additional 960 shares during the period. DAVENPORT & Co LLC boosted its holdings in shares of Manulife Financial by 5.8% during the 2nd quarter. DAVENPORT & Co LLC now owns 95,873 shares of the financial services provider’s stock worth $3,064,000 after buying an additional 5,292 shares during the period. Finally, OLD National Bancorp IN boosted its holdings in shares of Manulife Financial by 4.9% during the 2nd quarter. OLD National Bancorp IN now owns 10,310 shares of the financial services provider’s stock worth $330,000 after buying an additional 482 shares during the period. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Morgan Stanley set a $48.00 target price on shares of Manulife Financial in a report on Monday, August 18th. Royal Bank Of Canada reduced their target price on shares of Manulife Financial from $51.00 to $49.00 and set an “outperform” rating for the company in a report on Friday, August 8th. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Manulife Financial in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat, Manulife Financial has an average rating of “Buy” and an average target price of $48.50.

Manulife Financial Stock Up 1.0%

NYSE MFC opened at $32.29 on Tuesday. The company has a market capitalization of $54.72 billion, a P/E ratio of 14.42, a P/E/G ratio of 1.07 and a beta of 0.98. Manulife Financial Corp has a 12-month low of $25.92 and a 12-month high of $33.07. The firm has a 50-day moving average price of $30.88 and a two-hundred day moving average price of $30.82.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.02). The business had revenue of $11.30 billion during the quarter. Manulife Financial had a net margin of 10.46% and a return on equity of 15.77%. During the same period in the prior year, the company earned $0.91 earnings per share. Equities analysts expect that Manulife Financial Corp will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Wednesday, August 20th were issued a $0.3199 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $1.28 dividend on an annualized basis and a yield of 4.0%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.32. Manulife Financial’s payout ratio is presently 56.70%.

About Manulife Financial

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.