Manulife Financial Co. (NYSE:MFC) Shares Bought by First Republic Investment Management Inc.

First Republic Investment Management Inc. boosted its position in shares of Manulife Financial Co. (NYSE:MFCGet Rating) (TSE:MFC) by 6.7% in the third quarter, Holdings Channel.com reports. The firm owned 1,132,642 shares of the financial services provider’s stock after acquiring an additional 71,159 shares during the period. First Republic Investment Management Inc.’s holdings in Manulife Financial were worth $17,749,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Resources Management Corp CT ADV grew its position in Manulife Financial by 1.2% in the 2nd quarter. Resources Management Corp CT ADV now owns 44,195 shares of the financial services provider’s stock worth $766,000 after purchasing an additional 538 shares during the last quarter. Metis Global Partners LLC lifted its stake in Manulife Financial by 0.8% in the 2nd quarter. Metis Global Partners LLC now owns 71,609 shares of the financial services provider’s stock worth $1,242,000 after acquiring an additional 588 shares in the last quarter. Brinker Capital Investments LLC boosted its holdings in shares of Manulife Financial by 5.3% during the first quarter. Brinker Capital Investments LLC now owns 12,449 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 624 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of Manulife Financial by 1.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 57,371 shares of the financial services provider’s stock valued at $1,002,000 after acquiring an additional 765 shares in the last quarter. Finally, Allworth Financial LP increased its position in Manulife Financial by 32.3% in the 3rd quarter. Allworth Financial LP now owns 3,482 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 851 shares during the last quarter. Institutional investors and hedge funds own 43.42% of the company’s stock.

Analyst Upgrades and Downgrades

MFC has been the topic of several recent research reports. Credit Suisse Group began coverage on Manulife Financial in a report on Thursday, January 12th. They set a “neutral” rating on the stock. Barclays decreased their price target on shares of Manulife Financial from C$30.00 to C$29.00 in a research report on Wednesday, October 12th. StockNews.com started coverage on Manulife Financial in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, National Bank Financial lowered their target price on shares of Manulife Financial from C$25.00 to C$24.00 in a research note on Friday, October 28th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $28.86.

Manulife Financial Trading Up 0.6 %

Shares of MFC stock opened at $19.24 on Wednesday. The firm’s fifty day moving average price is $18.04 and its two-hundred day moving average price is $17.46. The firm has a market capitalization of $35.88 billion, a P/E ratio of 6.54, a PEG ratio of 0.81 and a beta of 1.12. Manulife Financial Co. has a 1 year low of $14.92 and a 1 year high of $22.19.

Manulife Financial (NYSE:MFCGet Rating) (TSE:MFC) last released its quarterly earnings data on Wednesday, November 9th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $11.51 billion. As a group, equities research analysts forecast that Manulife Financial Co. will post 2.27 EPS for the current fiscal year.

Manulife Financial Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 19th. Shareholders of record on Tuesday, November 22nd were paid a dividend of $0.242 per share. This represents a $0.97 annualized dividend and a yield of 5.03%. The ex-dividend date of this dividend was Monday, November 21st. Manulife Financial’s payout ratio is presently 32.99%.

Manulife Financial Company Profile

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Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, 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 provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks.

See Also

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Institutional Ownership by Quarter for Manulife Financial (NYSE:MFC)

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