Callan Family Office LLC Has $1.94 Million Position in Manulife Financial Corp $MFC

Callan Family Office LLC raised its stake in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 266.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,617 shares of the financial services provider’s stock after acquiring an additional 44,091 shares during the period. Callan Family Office LLC’s holdings in Manulife Financial were worth $1,937,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MFC. William B. Walkup & Associates Inc. acquired a new position in shares of Manulife Financial during the 1st quarter worth $43,000. Oliver Lagore Vanvalin Investment Group bought a new stake in Manulife Financial during the 2nd quarter worth $55,000. Carderock Capital Management Inc. bought a new stake in Manulife Financial during the 2nd quarter worth $58,000. Opal Wealth Advisors LLC bought a new stake in Manulife Financial during the 1st quarter worth $59,000. Finally, Kozak & Associates Inc. bought a new stake in shares of Manulife Financial in the 2nd quarter valued at about $61,000. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Stock Down 0.7%

MFC stock opened at $31.71 on Friday. The business has a 50 day moving average of $30.98 and a 200-day moving average of $30.84. Manulife Financial Corp has a 12-month low of $25.92 and a 12-month high of $33.07. The firm has a market cap of $53.73 billion, a PE ratio of 14.16, a P/E/G ratio of 1.09 and a beta of 0.98.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data 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). Manulife Financial had a net margin of 10.46% and a return on equity of 15.77%. The firm had revenue of $11.30 billion for the quarter. During the same period last year, the business posted $0.91 earnings per share. On average, research analysts expect that Manulife Financial Corp will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

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

Analyst Ratings Changes

A number of research firms have commented on MFC. Morgan Stanley set a $47.00 price target on Manulife Financial in a research report on Tuesday. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Manulife Financial in a research note on Wednesday. Finally, Royal Bank Of Canada dropped their price target on Manulife Financial from $51.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $48.00.

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.