Lombard Odier Asset Management Europe Ltd Invests $16.93 Million in Manulife Financial Corp $MFC

Lombard Odier Asset Management Europe Ltd acquired a new stake in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 417,893 shares of the financial services provider’s stock, valued at approximately $16,932,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Basepoint Wealth LLC bought a new stake in Manulife Financial in the fourth quarter worth approximately $25,000. Addison Advisors LLC acquired a new position in Manulife Financial in the second quarter valued at approximately $25,000. First Bancorp Inc ME bought a new position in shares of Manulife Financial during the 2nd quarter worth approximately $26,000. Hantz Financial Services Inc. bought a new position in shares of Manulife Financial during the 4th quarter worth approximately $28,000. Finally, Sfam LLC acquired a new stake in shares of Manulife Financial during the 4th quarter worth approximately $28,000. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Performance

Shares of NYSE:MFC opened at $42.82 on Friday. Manulife Financial Corp has a 52-week low of $30.20 and a 52-week high of $45.33. The business’s 50 day simple moving average is $42.72 and its two-hundred day simple moving average is $39.08. The firm has a market cap of $71.16 billion, a P/E ratio of 15.98 and a beta of 0.84.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.78 by $0.01. Manulife Financial had a return on equity of 16.68% and a net margin of 9.99%.The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. On average, equities analysts forecast that Manulife Financial Corp will post 3.03 earnings per share for the current fiscal year.

Manulife Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Friday, August 21st will be given a $0.485 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.94 annualized dividend and a yield of 4.5%. Manulife Financial’s dividend payout ratio (DPR) is presently 51.49%.

Analysts Set New Price Targets

Several analysts have recently weighed in on MFC shares. BMO Capital Markets reiterated an “outperform” rating on shares of Manulife Financial in a research note on Friday, August 7th. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research note on Friday, August 7th. Royal Bank Of Canada raised their price target on shares of Manulife Financial from $55.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. TD Securities reaffirmed a “buy” rating on shares of Manulife Financial in a research note on Thursday, August 6th. Finally, Zacks Research downgraded shares of Manulife Financial from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Manulife Financial currently has an average rating of “Buy” and a consensus price target of $59.00.

Manulife Financial 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.