Greenleaf Trust Boosts Position in Manulife Financial Co. (NYSE:MFC)

Greenleaf Trust lifted its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 19.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,889 shares of the financial services provider’s stock after purchasing an additional 1,598 shares during the quarter. Greenleaf Trust’s holdings in Manulife Financial were worth $292,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Grove Bank & Trust purchased a new stake in shares of Manulife Financial in the 2nd quarter valued at approximately $25,000. West Financial Advisors LLC purchased a new position in shares of Manulife Financial during the 3rd quarter worth approximately $26,000. Addison Advisors LLC raised its position in Manulife Financial by 77.2% in the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 467 shares during the period. HHM Wealth Advisors LLC grew its stake in shares of 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 valued at $29,000 after buying an additional 600 shares in the last quarter. Finally, Sachetta LLC raised its holdings 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 valued at $31,000 after buying an additional 792 shares during the period. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Stock Performance

MFC opened at $29.79 on Friday. Manulife Financial Co. has a one year low of $17.07 and a one year high of $30.86. The company has a market cap of $52.40 billion, a P/E ratio of 17.22, a PEG ratio of 1.10 and a beta of 1.08. The business’s 50-day simple moving average is $28.69 and its 200-day simple moving average is $26.57.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.27. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. The company had revenue of $9.41 billion for the quarter, compared to analysts’ expectations of $8.95 billion. During the same quarter last year, the company earned $0.62 earnings per share. As a group, analysts predict that Manulife Financial Co. will post 2.74 earnings per share for the current fiscal year.

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st were paid a $0.29 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $1.16 annualized dividend and a yield of 3.89%. Manulife Financial’s dividend payout ratio is presently 67.05%.

Analysts Set New Price Targets

MFC has been the subject of several research reports. Barclays began coverage on Manulife Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating for the company. 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 given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target 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.