Osmosis Investment Management UK Ltd Invests $2.56 Million in Manulife Financial Corp $MFC

Osmosis Investment Management UK Ltd acquired a new position in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 63,248 shares of the financial services provider’s stock, valued at approximately $2,564,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Basepoint Wealth LLC acquired a new stake in shares of Manulife Financial in the fourth quarter valued at approximately $25,000. Addison Advisors LLC acquired a new position in shares of Manulife Financial during the second quarter worth approximately $25,000. Hantz Financial Services Inc. bought a new position in Manulife Financial in the 4th quarter worth approximately $28,000. Canerector Inc. grew its holdings in Manulife Financial by 27.0% during the first quarter. Canerector Inc. now owns 800,000 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 170,000 shares during the period. Finally, Sfam LLC bought a new stake in shares of Manulife Financial in the 4th quarter worth approximately $28,000. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Price Performance

Shares of NYSE MFC opened at $42.54 on Monday. The business’s 50-day moving average price is $42.48 and its two-hundred day moving average price is $38.90. Manulife Financial Corp has a one year low of $29.77 and a one year high of $45.33. The company has a market capitalization of $70.70 billion, a P/E ratio of 15.87 and a beta of 0.84.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. Manulife Financial had a return on equity of 16.68% and a net margin of 9.99%.The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same period last year, the business earned $0.95 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. On average, equities analysts anticipate that Manulife Financial Corp will post 3.03 EPS for the current year.

Manulife Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Friday, August 21st will be issued a $0.485 dividend. The ex-dividend date is Friday, August 21st. This represents a $1.94 dividend on an annualized basis and a yield of 4.6%. Manulife Financial’s dividend payout ratio is currently 51.49%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MFC shares. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a report on Friday, August 7th. TD Securities reissued a “buy” rating on shares of Manulife Financial in a research note on Thursday, August 6th. BMO Capital Markets restated an “outperform” rating on shares of Manulife Financial in a research report on Friday, August 7th. Zacks Research cut Manulife Financial from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings upgraded Manulife Financial from a “buy (a-)” rating to a “buy (a)” rating in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $59.00.

Manulife Financial Profile

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.