M&G Plc Has $75.91 Million Holdings in Manulife Financial Co. (NYSE:MFC)

M&G Plc lessened its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 6.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,813,706 shares of the financial services provider’s stock after selling 195,526 shares during the period. M&G Plc owned about 0.16% of Manulife Financial worth $75,905,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MFC. Prudential PLC increased its holdings in shares of Manulife Financial by 11.1% in the 4th quarter. Prudential PLC now owns 1,141,942 shares of the financial services provider’s stock valued at $25,235,000 after purchasing an additional 114,213 shares during the period. Duality Advisers LP increased its holdings in shares of Manulife Financial by 795.2% in the 1st quarter. Duality Advisers LP now owns 217,658 shares of the financial services provider’s stock valued at $5,439,000 after purchasing an additional 193,343 shares during the period. Alberta Investment Management Corp increased its holdings in shares of Manulife Financial by 21.4% in the 4th quarter. Alberta Investment Management Corp now owns 4,182,203 shares of the financial services provider’s stock valued at $92,867,000 after purchasing an additional 737,203 shares during the period. Bessemer Group Inc. increased its holdings in shares of Manulife Financial by 2,913.7% in the 1st quarter. Bessemer Group Inc. now owns 86,615 shares of the financial services provider’s stock valued at $2,163,000 after purchasing an additional 83,741 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of Manulife Financial in the 4th quarter valued at about $1,846,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. TD Securities increased their price objective on Manulife Financial from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, National Bank Financial upgraded Manulife Financial from a “sector perform” rating to an “outperform” rating in a report on Thursday, May 9th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Manulife Financial has an average rating of “Buy” and an average target price of $35.67.

Manulife Financial Trading Up 2.0 %

Manulife Financial stock traded up $0.50 during trading hours on Tuesday, reaching $25.46. 1,245,849 shares of the company were exchanged, compared to its average volume of 2,802,199. Manulife Financial Co. has a 12 month low of $17.07 and a 12 month high of $27.51. The firm has a market cap of $45.57 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 0.94 and a beta of 1.09. The stock has a 50-day moving average of $25.98 and a 200 day moving average of $24.80.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.27. The business had revenue of $9.41 billion during the quarter, compared to the consensus estimate of $8.95 billion. Manulife Financial had a net margin of 9.28% and a return on equity of 16.27%. During the same period in the prior year, the firm earned $0.62 EPS. As a group, research analysts forecast that Manulife Financial Co. will post 2.72 EPS for the current year.

Manulife Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, August 21st will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.56%. The ex-dividend date of this dividend is Wednesday, August 21st. Manulife Financial’s dividend payout ratio is currently 66.86%.

Manulife Financial Company Profile

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.