Kathmere Capital Management LLC Takes Position in Manulife Financial Co. (NYSE:MFC)

Kathmere Capital Management LLC bought a new stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,789 shares of the financial services provider’s stock, valued at approximately $270,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prudential PLC grew its position in shares of Manulife Financial by 11.1% during the 4th quarter. Prudential PLC now owns 1,141,942 shares of the financial services provider’s stock valued at $25,235,000 after acquiring an additional 114,213 shares during the period. Alberta Investment Management Corp lifted its stake in shares of Manulife Financial by 21.4% during 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 buying an additional 737,203 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Manulife Financial during the 4th quarter valued at approximately $1,846,000. Claret Asset Management Corp lifted its stake in shares of Manulife Financial by 1.0% during the 4th quarter. Claret Asset Management Corp now owns 89,860 shares of the financial services provider’s stock valued at $1,987,000 after buying an additional 904 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in shares of Manulife Financial by 109.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 199,140 shares of the financial services provider’s stock valued at $4,401,000 after buying an additional 104,026 shares in the last quarter. 52.56% of the stock is owned by institutional investors.

Manulife Financial Stock Performance

Manulife Financial stock opened at $26.62 on Friday. The firm’s fifty day moving average price is $25.41 and its 200-day moving average price is $23.79. The stock has a market cap of $47.64 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 0.97 and a beta of 1.09. Manulife Financial Co. has a fifty-two week low of $17.07 and a fifty-two week high of $26.81.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, May 8th. The financial services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.66 by $0.04. Manulife Financial had a net margin of 9.28% and a return on equity of 16.27%. The company had revenue of $9.49 billion for the quarter, compared to analyst estimates of $8.85 billion. On average, analysts predict that Manulife Financial Co. will post 2.74 earnings per share for the current year.

Manulife Financial Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.36%. The ex-dividend date was Tuesday, May 21st. Manulife Financial’s dividend payout ratio is currently 67.44%.

Analysts Set New Price Targets

A number of brokerages recently commented on MFC. National Bank Financial upgraded shares of Manulife Financial from a “sector perform” rating to an “outperform” rating in a research note on Thursday, May 9th. TD Securities upped their price target on shares of Manulife Financial from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Manulife Financial presently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

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.