Hillsdale Investment Management Inc. Has $34.72 Million Stock Position in Manulife Financial Corp $MFC

Hillsdale Investment Management Inc. trimmed its holdings in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 37.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,085,013 shares of the financial services provider’s stock after selling 637,435 shares during the period. Manulife Financial makes up 1.3% of Hillsdale Investment Management Inc.’s investment portfolio, making the stock its 15th largest holding. Hillsdale Investment Management Inc. owned about 0.06% of Manulife Financial worth $34,717,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Wealth Alliance LLC lifted its position in shares of Manulife Financial by 1.7% during the 2nd quarter. Wealth Alliance LLC now owns 20,984 shares of the financial services provider’s stock valued at $671,000 after acquiring an additional 345 shares during the period. Blair William & Co. IL raised its holdings in shares of Manulife Financial by 1.9% during the first quarter. Blair William & Co. IL now owns 19,878 shares of the financial services provider’s stock valued at $619,000 after purchasing an additional 377 shares during the period. Sachetta LLC raised its holdings in shares of Manulife Financial by 15.2% during the second quarter. Sachetta LLC now owns 3,005 shares of the financial services provider’s stock valued at $96,000 after purchasing an additional 396 shares during the period. Apollon Wealth Management LLC boosted its position in shares of Manulife Financial by 2.2% during the 2nd quarter. Apollon Wealth Management LLC now owns 19,059 shares of the financial services provider’s stock worth $609,000 after purchasing an additional 402 shares in the last quarter. Finally, New England Capital Financial Advisors LLC grew its stake in shares of Manulife Financial by 7.4% in the 2nd quarter. New England Capital Financial Advisors LLC now owns 5,939 shares of the financial services provider’s stock valued at $190,000 after buying an additional 411 shares during the period. Institutional investors and hedge funds own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

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

Manulife Financial Price Performance

Shares of MFC stock opened at $33.89 on Friday. The firm has a 50-day moving average of $32.33 and a 200-day moving average of $31.52. Manulife Financial Corp has a one year low of $25.92 and a one year high of $35.57. The company has a market cap of $57.10 billion, a P/E ratio of 15.13, a P/E/G ratio of 1.13 and a beta of 0.98.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data 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. The business had revenue of $12.90 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 company posted $1.00 earnings per share. As a group, research analysts expect that Manulife Financial Corp will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Wednesday, November 26th will be issued a $0.44 dividend. This is a boost from Manulife Financial’s previous quarterly dividend of $0.32. This represents a $1.76 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Wednesday, November 26th. Manulife Financial’s dividend payout ratio is currently 55.56%.

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.