Stephens Inc. AR acquired a new position in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 11,904 shares of the financial services provider’s stock, valued at approximately $242,000.
A number of other institutional investors have also recently made changes to their positions in MFC. BB&T Corp raised its position in Manulife Financial by 3.0% during the 2nd quarter. BB&T Corp now owns 39,677 shares of the financial services provider’s stock worth $744,000 after buying an additional 1,151 shares during the last quarter. FineMark National Bank & Trust purchased a new position in shares of Manulife Financial in the 2nd quarter valued at about $4,182,000. NGAM Advisors L.P. increased its holdings in shares of Manulife Financial by 0.3% in the 2nd quarter. NGAM Advisors L.P. now owns 613,886 shares of the financial services provider’s stock valued at $11,517,000 after purchasing an additional 1,693 shares in the last quarter. Harbour Capital Advisors LLC increased its holdings in shares of Manulife Financial by 1,597.1% in the 2nd quarter. Harbour Capital Advisors LLC now owns 42,004 shares of the financial services provider’s stock valued at $2,239,000 after purchasing an additional 39,529 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Manulife Financial by 41.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 24,299 shares of the financial services provider’s stock valued at $456,000 after purchasing an additional 7,175 shares in the last quarter. Institutional investors own 46.68% of the company’s stock.
Manulife Financial Corp (NYSE:MFC) opened at $21.23 on Friday. The stock has a market cap of $42,010.88, a PE ratio of 12.27, a PEG ratio of 1.28 and a beta of 1.32. Manulife Financial Corp has a twelve month low of $16.62 and a twelve month high of $21.69.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Tuesday, November 21st will be issued a $0.1606 dividend. The ex-dividend date is Monday, November 20th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.03%. Manulife Financial’s dividend payout ratio is presently 45.71%.
A number of equities analysts have recently issued reports on MFC shares. ValuEngine downgraded shares of Manulife Financial from a “strong-buy” rating to a “buy” rating in a report on Monday, September 18th. Zacks Investment Research upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Tuesday, October 10th. Finally, Morgan Stanley increased their price target on shares of Manulife Financial from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $25.00.
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About Manulife Financial
Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.
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