Promethos Capital LLC Grows Position in Manulife Financial Co. (NYSE:MFC)

Promethos Capital LLC raised its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 0.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 417,645 shares of the financial services provider’s stock after purchasing an additional 752 shares during the period. Manulife Financial makes up about 4.1% of Promethos Capital LLC’s portfolio, making the stock its 6th largest holding. Promethos Capital LLC’s holdings in Manulife Financial were worth $11,100,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MFC. Benjamin Edwards Inc. lifted its position in shares of Manulife Financial by 11.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 40,230 shares of the financial services provider’s stock valued at $1,071,000 after acquiring an additional 4,085 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in Manulife Financial by 4.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 66,649 shares of the financial services provider’s stock valued at $1,774,000 after purchasing an additional 2,665 shares in the last quarter. Intech Investment Management LLC lifted its position in Manulife Financial by 37.6% during the second quarter. Intech Investment Management LLC now owns 93,872 shares of the financial services provider’s stock worth $2,499,000 after purchasing an additional 25,661 shares during the period. Mark Sheptoff Financial Planning LLC bought a new position in Manulife Financial in the 2nd quarter valued at about $80,000. Finally, WCG Wealth Advisors LLC raised its position in shares of Manulife Financial by 51.9% in the 2nd quarter. WCG Wealth Advisors LLC now owns 27,561 shares of the financial services provider’s stock valued at $734,000 after buying an additional 9,414 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Trading Up 2.2 %

MFC stock opened at $28.88 on Friday. Manulife Financial Co. has a 1-year low of $17.07 and a 1-year high of $28.89. The stock has a 50-day moving average price of $26.56 and a 200-day moving average price of $25.56. The firm has a market cap of $51.68 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.27. The firm had revenue of $9.41 billion for the quarter, compared to analyst estimates of $8.95 billion. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. During the same period in the previous year, the firm earned $0.62 earnings per share. On average, analysts forecast that Manulife Financial Co. will post 2.72 earnings per share for the current year.

Manulife Financial Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend was Wednesday, August 21st. Manulife Financial’s payout ratio is 66.86%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. TD Securities lifted their price target on shares of Manulife Financial from $38.00 to $40.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Barclays assumed coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating on the stock. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Manulife Financial currently has a consensus rating of “Moderate Buy” and an average 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.