Expressive Wealth LLC Makes New $718,000 Investment in Manulife Financial Corp $MFC

Expressive Wealth LLC acquired a new position in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,723 shares of the financial services provider’s stock, valued at approximately $718,000.

A number of other large investors also recently modified their holdings of MFC. UBS Group AG lifted its position in shares of Manulife Financial by 10.0% during the fourth quarter. UBS Group AG now owns 4,016,230 shares of the financial services provider’s stock valued at $145,709,000 after purchasing an additional 363,963 shares in the last quarter. Generali Asset Management SPA SGR boosted its holdings in Manulife Financial by 1,092.1% during the fourth quarter. Generali Asset Management SPA SGR now owns 51,632 shares of the financial services provider’s stock worth $1,873,000 after purchasing an additional 47,301 shares during the last quarter. Canerector Inc. grew its position in Manulife Financial by 27.0% in the 1st quarter. Canerector Inc. now owns 800,000 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 170,000 shares in the last quarter. Swiss National Bank grew its position in Manulife Financial by 25.7% in the 1st quarter. Swiss National Bank now owns 5,645,600 shares of the financial services provider’s stock worth $194,191,000 after purchasing an additional 1,154,200 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in Manulife Financial by 183.7% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,702,230 shares of the financial services provider’s stock valued at $402,969,000 after buying an additional 7,577,711 shares during the last quarter. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Performance

MFC opened at $42.54 on Friday. Manulife Financial Corp has a fifty-two week low of $29.77 and a fifty-two week high of $45.33. The firm has a 50-day moving average of $42.48 and a 200 day moving average of $38.90. The firm has a market cap of $70.70 billion, a P/E ratio of 15.87 and a beta of 0.84.

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

Manulife Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Friday, August 21st will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, August 21st. This represents a $1.94 annualized dividend and a dividend yield of 4.6%. Manulife Financial’s dividend payout ratio (DPR) is presently 53.36%.

Analysts Set New Price Targets

MFC has been the topic of several recent analyst reports. Zacks Research cut shares of Manulife Financial from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 15th. Royal Bank Of Canada upped their target price on Manulife Financial from $55.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Weiss Ratings raised Manulife Financial from a “buy (a-)” rating to a “buy (a)” rating in a research report on Wednesday. TD Securities reiterated a “buy” rating on shares of Manulife Financial in a report on Thursday, August 6th. Finally, Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Manulife Financial has a consensus rating of “Buy” and a consensus price target of $59.00.

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.