Mark Sheptoff Financial Planning LLC Makes New $80,000 Investment in Manulife Financial Co. (NYSE:MFC)

Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,000 shares of the financial services provider’s stock, valued at approximately $80,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MFC. FIL Ltd raised its holdings in Manulife Financial by 750.5% during the 4th quarter. FIL Ltd now owns 9,910,281 shares of the financial services provider’s stock worth $218,990,000 after purchasing an additional 8,745,071 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Manulife Financial by 57.9% during the 1st quarter. Toronto Dominion Bank now owns 23,307,081 shares of the financial services provider’s stock worth $582,444,000 after buying an additional 8,548,114 shares during the period. TD Asset Management Inc grew its position in shares of Manulife Financial by 26.5% during the 4th quarter. TD Asset Management Inc now owns 37,066,418 shares of the financial services provider’s stock worth $823,074,000 after buying an additional 7,766,870 shares during the period. 1832 Asset Management L.P. raised its stake in shares of Manulife Financial by 103.1% during the first quarter. 1832 Asset Management L.P. now owns 14,686,893 shares of the financial services provider’s stock worth $367,025,000 after buying an additional 7,456,712 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in Manulife Financial by 47.4% in the fourth quarter. CIBC Asset Management Inc now owns 20,710,186 shares of the financial services provider’s stock valued at $459,108,000 after buying an additional 6,663,997 shares during the period. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Down 0.0 %

Shares of MFC stock opened at $28.26 on Thursday. The firm has a market capitalization of $50.57 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08. Manulife Financial Co. has a 12-month low of $17.07 and a 12-month high of $28.56. The firm has a fifty day moving average of $26.52 and a 200-day moving average of $25.54.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.27. The business had revenue of $9.41 billion for the quarter, compared to analyst estimates 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 business posted $0.62 earnings per share. Research analysts expect that Manulife Financial Co. will post 2.72 earnings per share for the current year.

Manulife Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend is Wednesday, August 21st. Manulife Financial’s dividend payout ratio is presently 66.86%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MFC. TD Securities lifted their target price 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 raised Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Barclays assumed coverage on Manulife Financial in a report on Thursday, September 5th. They issued an “equal weight” rating for the company. Two investment 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. According to data from MarketBeat.com, Manulife Financial presently has a consensus rating of “Moderate 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.