Hsbc Holdings PLC Has $1.78 Million Holdings in Manulife Financial Co. (NYSE:MFC)

Hsbc Holdings PLC decreased its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 98.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,761 shares of the financial services provider’s stock after selling 4,961,518 shares during the period. Hsbc Holdings PLC’s holdings in Manulife Financial were worth $1,779,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MFC. Grove Bank & Trust acquired a new stake in Manulife Financial during the 2nd quarter valued at $25,000. Fortis Group Advisors LLC raised its position in shares of Manulife Financial by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 1,210 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 605 shares during the period. Bruce G. Allen Investments LLC lifted its stake in shares of Manulife Financial by 73.6% during 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 last quarter. Addison Advisors LLC boosted its holdings in shares of Manulife Financial by 77.2% during the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock worth $29,000 after buying an additional 467 shares during the period. Finally, HHM Wealth Advisors LLC grew its stake in Manulife Financial by 119.0% in 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 during the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Price Performance

Shares of NYSE:MFC opened at $29.64 on Friday. The business’s 50 day simple moving average is $26.73 and its 200 day simple moving average is $25.71. Manulife Financial Co. has a 1 year low of $17.07 and a 1 year high of $29.88. The company has a market capitalization of $53.04 billion, a P/E ratio of 17.23, a P/E/G ratio of 1.06 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results 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. 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 for the quarter, compared to analyst estimates of $8.95 billion. During the same period in the prior year, the firm posted $0.62 EPS. On average, sell-side analysts anticipate that Manulife Financial Co. will post 2.72 EPS for the current fiscal year.

Manulife Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.91%. The ex-dividend date was Wednesday, August 21st. Manulife Financial’s dividend payout ratio is currently 66.86%.

Analyst Upgrades and Downgrades

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

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.