Vanguard Personalized Indexing Management LLC Has $1.86 Million Stake in Manulife Financial Co. (NYSE:MFC)

Vanguard Personalized Indexing Management LLC increased its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 23.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,901 shares of the financial services provider’s stock after acquiring an additional 13,069 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Manulife Financial were worth $1,858,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Grove Bank & Trust bought a new position in Manulife Financial in the 2nd quarter valued at about $25,000. Fortis Group Advisors LLC increased its stake in shares of Manulife Financial by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 1,210 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 605 shares during the period. Bruce G. Allen Investments LLC lifted its holdings in Manulife Financial by 73.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 1,156 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 490 shares during the last quarter. Addison Advisors LLC boosted its stake in Manulife Financial by 77.2% in the 2nd 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. Finally, HHM Wealth Advisors LLC grew its holdings in Manulife Financial by 119.0% in the 2nd 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. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Down 0.3 %

MFC opened at $28.77 on Friday. The stock has a market capitalization of $51.49 billion, a price-to-earnings ratio of 16.73, a P/E/G ratio of 1.02 and a beta of 1.08. Manulife Financial Co. has a twelve month low of $17.07 and a twelve month high of $28.97. The company has a 50-day simple moving average of $26.59 and a 200 day simple moving average of $25.61.

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 for the quarter, topping analysts’ consensus estimates of $0.64 by $0.27. The company had revenue of $9.41 billion during the quarter, compared to the consensus estimate 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 prior year, the firm posted $0.62 EPS. Sell-side analysts anticipate that Manulife Financial Co. will post 2.72 EPS for the current fiscal year.

Manulife Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st were paid a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.16 annualized dividend and a dividend yield of 4.03%. Manulife Financial’s payout ratio is 66.86%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. TD Securities lifted their target price on 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 shares of Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Barclays started coverage on shares of Manulife Financial in a report on Thursday, September 5th. They set 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.67.

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.