Cetera Investment Advisers Has $4.07 Million Stake in Manulife Financial Co. (NYSE:MFC)

Cetera Investment Advisers raised its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 5.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 152,865 shares of the financial services provider’s stock after acquiring an additional 8,011 shares during the period. Cetera Investment Advisers’ holdings in Manulife Financial were worth $4,068,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. EP Wealth Advisors LLC acquired a new stake in shares of Manulife Financial during the second quarter worth approximately $281,000. B. Riley Wealth Advisors Inc. grew its stake in shares of Manulife Financial by 20.7% during the second quarter. B. Riley Wealth Advisors Inc. now owns 12,913 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 2,213 shares during the last quarter. Invst LLC grew its stake in shares of Manulife Financial by 78.7% during the second quarter. Invst LLC now owns 15,965 shares of the financial services provider’s stock valued at $420,000 after purchasing an additional 7,032 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Manulife Financial by 8.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 76,512 shares of the financial services provider’s stock valued at $2,037,000 after purchasing an additional 5,891 shares during the last quarter. Finally, Kathmere Capital Management LLC grew its stake in shares of Manulife Financial by 11.9% during the second quarter. Kathmere Capital Management LLC now owns 12,071 shares of the financial services provider’s stock valued at $321,000 after purchasing an additional 1,282 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Performance

Shares of MFC stock opened at $29.78 on Thursday. Manulife Financial Co. has a 52-week low of $17.07 and a 52-week high of $30.25. The stock has a market cap of $53.29 billion, a PE ratio of 17.35, a PEG ratio of 1.06 and a beta of 1.08. The firm’s 50 day moving average price is $27.40 and its two-hundred day moving average price is $26.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.27. The firm 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 period last year, the firm earned $0.62 earnings per share. As a group, sell-side analysts predict that Manulife Financial Co. will post 2.72 earnings per share for the current fiscal year.

Manulife Financial Announces Dividend

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. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.16 annualized dividend and a yield of 3.90%. Manulife Financial’s dividend payout ratio (DPR) is presently 66.86%.

Analysts Set New Price Targets

MFC has been the topic of several research analyst reports. TD Securities increased 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, June 28th. Barclays initiated coverage on shares of Manulife Financial in a research note on Thursday, September 5th. They set an “equal weight” rating on the stock. Finally, Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price 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.