Manulife Financial Co. (NYSE:MFC) Shares Bought by Cwm LLC

Cwm LLC grew its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 18.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,072 shares of the financial services provider’s stock after acquiring an additional 2,326 shares during the quarter. Cwm LLC’s holdings in Manulife Financial were worth $445,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MFC. Grove Bank & Trust purchased a new stake in shares of Manulife Financial in the second quarter valued at $25,000. West Financial Advisors LLC purchased a new stake in shares of Manulife Financial in the third quarter valued at $26,000. Addison Advisors LLC lifted its position in shares of 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 acquiring an additional 467 shares in the last quarter. HHM Wealth Advisors LLC lifted its position 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 acquiring an additional 600 shares in the last quarter. Finally, Sachetta LLC lifted its position in shares of Manulife Financial by 209.5% in the second quarter. Sachetta LLC now owns 1,170 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 792 shares in the last quarter. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MFC shares. Barclays started coverage on Manulife Financial in a research report on Thursday, September 5th. They set an “equal weight” rating on the stock. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, TD Securities increased their target price on Manulife Financial from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $35.67.

Manulife Financial Price Performance

Manulife Financial stock opened at $30.49 on Monday. The stock’s 50-day moving average is $28.26 and its 200-day moving average is $26.40. The company has a market cap of $54.57 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 1.09 and a beta of 1.08. Manulife Financial Co. has a 12 month low of $17.07 and a 12 month high of $30.86.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released 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 company had revenue of $9.41 billion for 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 last year, the business posted $0.62 EPS. Research analysts anticipate that Manulife Financial Co. will post 2.73 EPS for the current year.

Manulife Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st were issued a $0.29 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.80%. Manulife Financial’s dividend payout ratio (DPR) is 66.86%.

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.