Lighthouse Investment Partners LLC Trims Position in Manulife Financial Co. (NYSE:MFC)

Lighthouse Investment Partners LLC lessened its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 69.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,155 shares of the financial services provider’s stock after selling 89,649 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in Manulife Financial were worth $1,069,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MFC. Grove Bank & Trust bought a new position in Manulife Financial in the 2nd quarter worth $25,000. Addison Advisors LLC increased its position in shares of 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 raised its stake in Manulife Financial by 119.0% in the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock worth $29,000 after buying an additional 600 shares in the last quarter. Bruce G. Allen Investments LLC lifted its holdings in Manulife Financial by 73.6% in the first 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 lifted its holdings in Manulife Financial by 209.5% in the second quarter. Sachetta LLC now owns 1,170 shares of the financial services provider’s stock worth $31,000 after buying an additional 792 shares during the period. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

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

Manulife Financial Trading Down 0.3 %

Manulife Financial stock opened at $29.53 on Friday. Manulife Financial Co. has a 12 month low of $17.07 and a 12 month high of $29.88. The company has a market capitalization of $52.85 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 1.06 and a beta of 1.08. The business’s fifty day simple moving average is $26.87 and its two-hundred day simple moving average is $25.79.

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

Manulife Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date was Wednesday, August 21st. Manulife Financial’s payout ratio is 66.86%.

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.