Invesco Ltd. Has $70.89 Million Holdings in Manulife Financial Corp $MFC

Invesco Ltd. cut its holdings in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 6.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,218,007 shares of the financial services provider’s stock after selling 161,109 shares during the period. Invesco Ltd.’s holdings in Manulife Financial were worth $70,888,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Eastern Bank lifted its position in shares of Manulife Financial by 156.1% in the second quarter. Eastern Bank now owns 968 shares of the financial services provider’s stock worth $31,000 after buying an additional 590 shares during the last quarter. Winnow Wealth LLC acquired a new stake in Manulife Financial in the 2nd quarter worth approximately $38,000. William B. Walkup & Associates Inc. acquired a new stake in Manulife Financial in the 1st quarter worth approximately $43,000. Oliver Lagore Vanvalin Investment Group bought a new stake in Manulife Financial during the second quarter worth approximately $55,000. Finally, Carderock Capital Management Inc. acquired a new position in Manulife Financial during the second quarter valued at approximately $58,000. 52.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on MFC. UBS Group started coverage on shares of Manulife Financial in a research report on Thursday, October 16th. They issued a “buy” rating on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Manulife Financial in a report on Monday, December 1st. BMO Capital Markets reissued an “outperform” rating on shares of Manulife Financial in a research report on Friday, November 14th. Royal Bank Of Canada raised their price target on Manulife Financial from $49.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, November 14th. Finally, Morgan Stanley set a $47.00 price objective on Manulife Financial in a research report on Tuesday, October 7th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $49.50.

Manulife Financial Stock Performance

NYSE MFC opened at $35.50 on Thursday. Manulife Financial Corp has a twelve month low of $25.92 and a twelve month high of $35.63. The stock has a market cap of $59.68 billion, a PE ratio of 15.78 and a beta of 0.83. The firm has a 50-day simple moving average of $33.39 and a 200 day simple moving average of $31.88.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, November 12th. The financial services provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.74 by $0.10. Manulife Financial had a return on equity of 16.11% and a net margin of 9.81%.The firm had revenue of $12.90 billion during the quarter. During the same period last year, the company earned $1.00 EPS. Research analysts forecast that Manulife Financial Corp will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Wednesday, November 26th will be paid a $0.44 dividend. The ex-dividend date is Wednesday, November 26th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.32. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.0%. Manulife Financial’s dividend payout ratio is currently 55.56%.

About Manulife Financial

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.