EP Wealth Advisors LLC Takes Position in Manulife Financial Co. (NYSE:MFC)

EP Wealth Advisors LLC purchased a new position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,546 shares of the financial services provider’s stock, valued at approximately $281,000.

A number of other hedge funds have also recently added to or reduced their stakes in MFC. Yousif Capital Management LLC increased its position in Manulife Financial by 1.5% during the 1st quarter. Yousif Capital Management LLC now owns 30,377 shares of the financial services provider’s stock worth $759,000 after purchasing an additional 460 shares during the period. Indiana Trust & Investment Management CO grew its holdings in Manulife Financial by 22.2% during the second quarter. Indiana Trust & Investment Management CO now owns 2,540 shares of the financial services provider’s stock worth $68,000 after acquiring an additional 462 shares during the period. 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 worth $29,000 after acquiring an additional 467 shares in the last quarter. First Affirmative Financial Network lifted its holdings in Manulife Financial by 4.5% in the first quarter. First Affirmative Financial Network now owns 11,086 shares of the financial services provider’s stock valued at $277,000 after acquiring an additional 482 shares during the period. Finally, Bruce G. Allen Investments LLC boosted its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on MFC shares. TD Securities raised their price objective 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 began coverage on shares of Manulife Financial in a report on Thursday, September 5th. They issued an “equal weight” rating for the company. Finally, Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Manulife Financial has an average rating of “Moderate Buy” and a consensus target price of $35.67.

Manulife Financial Trading Up 2.1 %

Shares of MFC opened at $30.24 on Friday. Manulife Financial Co. has a 12-month low of $17.07 and a 12-month high of $30.25. The stock has a market cap of $54.11 billion, a P/E ratio of 17.58, a PEG ratio of 1.06 and a beta of 1.08. The company has a 50-day moving average of $27.24 and a two-hundred day moving average of $25.98.

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

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 21st were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend was Wednesday, August 21st. Manulife Financial’s payout ratio is currently 66.86%.

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.