2,101 Shares in Manulife Financial Corp $MFC Acquired by RMG Wealth Management LLC

RMG Wealth Management LLC acquired a new position in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,101 shares of the financial services provider’s stock, valued at approximately $65,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MFC. William B. Walkup & Associates Inc. acquired a new position in Manulife Financial in the 1st quarter worth approximately $43,000. NBC Securities Inc. boosted its stake in Manulife Financial by 178,700.0% in the 1st quarter. NBC Securities Inc. now owns 1,788 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 1,787 shares during the period. Oliver Lagore Vanvalin Investment Group acquired a new position in Manulife Financial in the 2nd quarter worth approximately $55,000. Carderock Capital Management Inc. acquired a new position in Manulife Financial in the 2nd quarter worth approximately $58,000. Finally, Opal Wealth Advisors LLC acquired a new position in Manulife Financial in the 1st quarter worth approximately $59,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MFC shares. Royal Bank Of Canada cut their target price on shares of Manulife Financial from $51.00 to $49.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Manulife Financial in a research report on Saturday, September 27th. Finally, Morgan Stanley set a $48.00 target price on shares of Manulife Financial in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $48.50.

Manulife Financial Trading Up 1.0%

Manulife Financial stock opened at $32.29 on Tuesday. The company has a market capitalization of $54.72 billion, a P/E ratio of 14.42, a P/E/G ratio of 1.07 and a beta of 0.98. The firm’s fifty day simple moving average is $30.88 and its 200-day simple moving average is $30.82. Manulife Financial Corp has a 1-year low of $25.92 and a 1-year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.02). The business had revenue of $11.30 billion for the quarter. Manulife Financial had a net margin of 10.46% and a return on equity of 15.77%. During the same quarter in the prior year, the company earned $0.91 EPS. On average, equities research analysts predict that Manulife Financial Corp will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Wednesday, August 20th were issued a dividend of $0.3199 per share. The ex-dividend date was Wednesday, August 20th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.0%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.32. Manulife Financial’s payout ratio is 56.70%.

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.