18,861 Shares in Manulife Financial Corp $MFC Purchased by Expressive Wealth LLC

Expressive Wealth LLC purchased a new position in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) in the 4th quarter, Holdings Channel.com reports. The firm purchased 18,861 shares of the financial services provider’s stock, valued at approximately $684,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Manulife Financial by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 78,317,970 shares of the financial services provider’s stock worth $2,843,882,000 after buying an additional 1,606,480 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Manulife Financial by 5.8% during the third quarter. TD Asset Management Inc now owns 37,638,463 shares of the financial services provider’s stock worth $1,172,922,000 after buying an additional 2,079,330 shares in the last quarter. Canerector Inc. increased its holdings in shares of Manulife Financial by 4,445.8% during the third quarter. Canerector Inc. now owns 28,184,000 shares of the financial services provider’s stock worth $877,932,000 after buying an additional 27,564,000 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Manulife Financial by 25.6% during the third quarter. Mackenzie Financial Corp now owns 27,822,300 shares of the financial services provider’s stock worth $866,649,000 after buying an additional 5,671,639 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Manulife Financial by 5.7% during the third quarter. Legal & General Group Plc now owns 11,541,321 shares of the financial services provider’s stock worth $359,662,000 after buying an additional 621,093 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Price Performance

MFC opened at $38.58 on Wednesday. Manulife Financial Corp has a one year low of $29.70 and a one year high of $40.40. The company’s 50 day simple moving average is $37.13 and its 200-day simple moving average is $36.33. The stock has a market capitalization of $64.39 billion, a P/E ratio of 15.31 and a beta of 0.87.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, May 13th. The financial services provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.02). Manulife Financial had a net margin of 10.19% and a return on equity of 16.58%. The company had revenue of $8.89 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period last year, the company earned $0.99 earnings per share. As a group, analysts anticipate that Manulife Financial Corp will post 3.2 EPS for the current year.

Manulife Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Friday, May 29th. Manulife Financial’s dividend payout ratio is 56.35%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a report on Wednesday, April 29th. TD Securities reaffirmed a “buy” rating on shares of Manulife Financial in a report on Thursday, May 14th. Weiss Ratings raised shares of Manulife Financial from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, May 14th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Manulife Financial in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $51.50.

Manulife Financial Company Profile

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.