6,390 Shares in Manulife Financial Corp $MFC Acquired by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. bought a new stake in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 6,390 shares of the financial services provider’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also modified their holdings of MFC. JCIC Asset Management Inc. lifted its holdings in shares of Manulife Financial by 5.6% during the first quarter. JCIC Asset Management Inc. now owns 6,749 shares of the financial services provider’s stock valued at $210,000 after purchasing an additional 360 shares in the last quarter. Blair William & Co. IL lifted its stake in Manulife Financial by 1.9% during the 1st quarter. Blair William & Co. IL now owns 19,878 shares of the financial services provider’s stock valued at $619,000 after acquiring an additional 377 shares during the period. Sachetta LLC boosted its holdings in shares of Manulife Financial by 15.2% during the 2nd quarter. Sachetta LLC now owns 3,005 shares of the financial services provider’s stock valued at $96,000 after acquiring an additional 396 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of Manulife Financial by 2.2% during the 2nd quarter. Apollon Wealth Management LLC now owns 19,059 shares of the financial services provider’s stock valued at $609,000 after acquiring an additional 402 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Manulife Financial by 3.0% during the 1st quarter. Pacer Advisors Inc. now owns 15,405 shares of the financial services provider’s stock valued at $480,000 after acquiring an additional 444 shares during the last quarter. Institutional investors own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Manulife Financial in a research report on Wednesday, October 8th. Royal Bank Of Canada dropped their price target on Manulife Financial from $51.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. UBS Group began coverage on Manulife Financial in a research report on Thursday. They set a “buy” rating for the company. Finally, Morgan Stanley set a $47.00 target price on Manulife Financial in a research report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $48.00.

Manulife Financial Trading Down 0.0%

Manulife Financial stock opened at $31.65 on Friday. The firm has a 50 day moving average of $31.11 and a 200 day moving average of $30.86. The firm has a market capitalization of $53.63 billion, a price-to-earnings ratio of 14.13, a P/E/G ratio of 1.10 and a beta of 0.98. Manulife Financial Corp has a 12-month low of $25.92 and a 12-month high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.02). The firm had revenue of $11.30 billion during the quarter. Manulife Financial had a return on equity of 15.77% and a net margin of 10.46%.During the same period in the prior year, the firm posted $0.91 EPS. On average, analysts predict that Manulife Financial Corp will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Wednesday, August 20th were paid a $0.3199 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.0%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, August 20th. Manulife Financial’s dividend payout ratio is currently 56.70%.

About Manulife Financial

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.