Concurrent Investment Advisors LLC Has $426,000 Position in Manulife Financial Corp $MFC

Concurrent Investment Advisors LLC trimmed its holdings in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 8.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,339 shares of the financial services provider’s stock after selling 1,258 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Manulife Financial were worth $426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Rossby Financial LCC acquired a new position in Manulife Financial in the first quarter valued at approximately $243,000. Value Partners Investments Inc. increased its stake in shares of Manulife Financial by 16,609.6% in the 2nd quarter. Value Partners Investments Inc. now owns 1,519,407 shares of the financial services provider’s stock valued at $48,490,000 after acquiring an additional 1,510,314 shares in the last quarter. Intact Investment Management Inc. lifted its position in shares of Manulife Financial by 17.2% during the 1st quarter. Intact Investment Management Inc. now owns 2,527,925 shares of the financial services provider’s stock valued at $78,780,000 after acquiring an additional 370,570 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Manulife Financial by 5.8% during the 1st quarter. JPMorgan Chase & Co. now owns 9,501,434 shares of the financial services provider’s stock valued at $295,970,000 after acquiring an additional 521,451 shares during the period. Finally, Asahi Life Asset Management CO. LTD. bought a new position in Manulife Financial during the first quarter worth $431,000. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Performance

Shares of NYSE MFC opened at $31.65 on Friday. The stock has a market cap of $53.63 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.10 and a beta of 0.98. Manulife Financial Corp has a fifty-two week low of $25.92 and a fifty-two week high of $33.07. The firm’s 50-day simple moving average is $31.11 and its 200 day simple moving average is $30.86.

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

Manulife Financial Increases Dividend

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

Analysts Set New Price Targets

MFC has been the subject of several research analyst reports. Royal Bank Of Canada decreased their price target on shares of Manulife Financial from $51.00 to $49.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Weiss Ratings restated a “buy (a-)” rating on shares of Manulife Financial in a research note on Wednesday, October 8th. UBS Group initiated coverage on Manulife Financial in a research report on Thursday. They issued a “buy” rating for the company. Finally, Morgan Stanley set a $47.00 price target on Manulife Financial in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat.com, Manulife Financial currently has an average rating of “Buy” and a consensus target price of $48.00.

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.