Center for Financial Planning Inc. Raises Position in Manulife Financial Corp $MFC

Center for Financial Planning Inc. grew its holdings in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 143.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,396 shares of the financial services provider’s stock after purchasing an additional 3,774 shares during the quarter. Center for Financial Planning Inc.’s holdings in Manulife Financial were worth $204,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Stratos Wealth Partners LTD. lifted its stake in shares of Manulife Financial by 25.8% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 46,218 shares of the financial services provider’s stock worth $1,477,000 after purchasing an additional 9,478 shares during the period. Cidel Asset Management Inc. lifted its stake in shares of Manulife Financial by 2.9% during the 2nd quarter. Cidel Asset Management Inc. now owns 496,570 shares of the financial services provider’s stock worth $15,845,000 after purchasing an additional 14,088 shares during the period. Value Partners Investments Inc. increased its holdings in shares of Manulife Financial by 16,609.6% during the 2nd quarter. Value Partners Investments Inc. now owns 1,519,407 shares of the financial services provider’s stock worth $48,490,000 after buying an additional 1,510,314 shares during the last quarter. CWM LLC increased its holdings in shares of Manulife Financial by 211.8% during the 2nd quarter. CWM LLC now owns 51,378 shares of the financial services provider’s stock worth $1,642,000 after buying an additional 34,902 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Manulife Financial by 5.8% in the 1st quarter. JPMorgan Chase & Co. now owns 9,501,434 shares of the financial services provider’s stock worth $295,970,000 after buying an additional 521,451 shares during the period. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Price Performance

NYSE:MFC opened at $32.37 on Friday. The business’s 50-day moving average is $31.50 and its two-hundred day moving average is $31.15. Manulife Financial Corp has a 12 month low of $25.92 and a 12 month high of $33.07. The firm has a market capitalization of $54.69 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 1.13 and a beta of 0.98.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.69 EPS 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 company had revenue of $11.30 billion during the quarter. During the same quarter in the previous year, the business earned $0.91 earnings per share. Equities analysts anticipate that Manulife Financial Corp will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

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

Analyst Ratings Changes

Several research analysts recently weighed in on MFC shares. 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 report on Friday, August 8th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Manulife Financial in a research report on Wednesday, October 8th. UBS Group started coverage on Manulife Financial in a research report on Thursday, October 16th. They issued a “buy” rating on the stock. Finally, Morgan Stanley set a $47.00 target price on Manulife Financial in a research report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $48.00.

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.