Benjamin Edwards Inc. Grows Stock Position in Manulife Financial Co. (NYSE:MFC)

Benjamin Edwards Inc. increased its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 11.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,230 shares of the financial services provider’s stock after buying an additional 4,085 shares during the quarter. Benjamin Edwards Inc.’s holdings in Manulife Financial were worth $1,071,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Grove Bank & Trust bought a new position in shares of Manulife Financial during the second quarter valued at approximately $25,000. Addison Advisors LLC lifted its position in Manulife Financial by 77.2% during the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock valued at $29,000 after buying an additional 467 shares during the period. HHM Wealth Advisors LLC boosted its holdings in shares of Manulife Financial by 119.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock valued at $29,000 after buying an additional 600 shares in the last quarter. Bruce G. Allen Investments LLC grew its position in shares of Manulife Financial by 73.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 1,156 shares of the financial services provider’s stock worth $29,000 after buying an additional 490 shares during the period. Finally, Sachetta LLC increased its stake in shares of Manulife Financial by 209.5% in the 2nd quarter. Sachetta LLC now owns 1,170 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 792 shares in the last quarter. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Trading Down 0.3 %

MFC stock opened at $28.77 on Friday. The stock has a market capitalization of $51.49 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08. The stock’s 50 day simple moving average is $26.59 and its 200 day simple moving average is $25.59. Manulife Financial Co. has a 12-month low of $17.07 and a 12-month high of $28.97.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.64 by $0.27. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. The company had revenue of $9.41 billion during the quarter, compared to the consensus estimate of $8.95 billion. During the same period last year, the company earned $0.62 EPS. On average, research analysts predict that Manulife Financial Co. will post 2.72 earnings per share for the current year.

Manulife Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 21st were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, August 21st. This represents a $1.16 dividend on an annualized basis and a yield of 4.03%. Manulife Financial’s dividend payout ratio (DPR) is 66.86%.

Analysts Set New Price Targets

A number of brokerages have weighed in on MFC. TD Securities upped their price objective on shares of Manulife Financial from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Barclays assumed coverage on Manulife Financial in a research note on Thursday, September 5th. They set an “equal weight” rating for the company. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Manulife Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.67.

Manulife Financial 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.