TD Waterhouse Canada Inc. Reduces Holdings in Manulife Financial Corp $MFC

TD Waterhouse Canada Inc. cut its position in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 2.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,695,132 shares of the financial services provider’s stock after selling 179,862 shares during the quarter. Manulife Financial accounts for 1.5% of TD Waterhouse Canada Inc.’s portfolio, making the stock its 16th largest position. TD Waterhouse Canada Inc. owned 0.39% of Manulife Financial worth $213,904,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MFC. Brighton Jones LLC lifted its holdings in Manulife Financial by 33.9% in the 4th quarter. Brighton Jones LLC now owns 9,393 shares of the financial services provider’s stock worth $288,000 after buying an additional 2,376 shares in the last quarter. CWM LLC increased its position in shares of Manulife Financial by 16.7% during the first quarter. CWM LLC now owns 16,476 shares of the financial services provider’s stock worth $513,000 after acquiring an additional 2,357 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of Manulife Financial by 0.8% in the first quarter. Private Advisor Group LLC now owns 70,063 shares of the financial services provider’s stock worth $2,182,000 after acquiring an additional 547 shares in the last quarter. AE Wealth Management LLC purchased a new position in Manulife Financial in the first quarter valued at about $213,000. Finally, Ninepoint Partners LP boosted its holdings in Manulife Financial by 6.9% in the first quarter. Ninepoint Partners LP now owns 104,114 shares of the financial services provider’s stock valued at $3,243,000 after purchasing an additional 6,741 shares during the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Price Performance

MFC stock opened at $33.57 on Wednesday. The firm has a market cap of $56.57 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.13 and a beta of 0.98. Manulife Financial Corp has a 1-year low of $25.92 and a 1-year high of $35.57. The firm has a fifty day moving average price of $32.23 and a two-hundred day moving average price of $31.49.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, November 12th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.10. Manulife Financial had a net margin of 10.46% and a return on equity of 15.77%. The company had revenue of $12.90 billion for the quarter. During the same quarter in the previous year, the business posted $1.00 earnings per share. As a group, analysts expect that Manulife Financial Corp will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Wednesday, November 26th will be paid a $0.44 dividend. The ex-dividend date is Wednesday, November 26th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.32. This represents a $1.76 dividend on an annualized basis and a yield of 5.2%. Manulife Financial’s payout ratio is presently 55.56%.

Analyst Upgrades and Downgrades

MFC has been the topic of several analyst reports. Morgan Stanley set a $47.00 price objective on Manulife Financial in a report on Tuesday, October 7th. Weiss Ratings downgraded shares of Manulife Financial from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday. Royal Bank Of Canada upped their price target on shares of Manulife Financial from $49.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, November 14th. BMO Capital Markets reiterated an “outperform” rating on shares of Manulife Financial in a research note on Friday. Finally, UBS Group began coverage on shares of Manulife Financial in a report on Thursday, October 16th. They set a “buy” rating for the company. Five analysts have rated the stock with a Buy rating, According to MarketBeat, Manulife Financial has an average rating of “Buy” and a consensus target price of $49.50.

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.