PDS Planning Inc Has $355,000 Stock Position in Manulife Financial Corp $MFC

PDS Planning Inc grew its stake in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 4.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,117 shares of the financial services provider’s stock after purchasing an additional 464 shares during the quarter. PDS Planning Inc’s holdings in Manulife Financial were worth $355,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MFC. William B. Walkup & Associates Inc. acquired a new position in shares of Manulife Financial during the 1st quarter worth approximately $43,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Manulife Financial during the 2nd quarter worth approximately $55,000. Carderock Capital Management Inc. acquired a new position in shares of Manulife Financial during the 2nd quarter worth approximately $58,000. Opal Wealth Advisors LLC acquired a new position in shares of Manulife Financial during the 1st quarter worth approximately $59,000. Finally, Kozak & Associates Inc. acquired a new position in shares of Manulife Financial during the 2nd quarter worth approximately $61,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on MFC. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Manulife Financial in a research report on Wednesday, October 8th. Royal Bank Of Canada decreased their target price on Manulife Financial from $51.00 to $49.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Finally, Morgan Stanley set a $47.00 target price on Manulife Financial in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $48.00.

Manulife Financial Trading Down 0.7%

MFC stock opened at $31.71 on Monday. The business’s 50 day simple moving average is $30.98 and its 200 day simple moving average is $30.84. The firm has a market capitalization of $53.73 billion, a PE ratio of 14.16, a PEG ratio of 1.09 and a beta of 0.98. Manulife Financial Corp has a 1-year low of $25.92 and a 1-year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.02). The firm 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 previous year, the business earned $0.91 EPS. As a group, sell-side analysts predict that Manulife Financial Corp will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

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

Manulife Financial 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.