Stephens Inc. AR Takes Position in Manulife Financial Co. (NYSE:MFC)

Stephens Inc. AR purchased a new stake in shares of Manulife Financial Co. (NYSE:MFC – Get Rating) (TSE:MFC) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 11,468 shares of the financial services provider’s stock, valued at approximately $245,000.

Several other large investors have also recently modified their holdings of the business. Sigma Planning Corp raised its stake in shares of Manulife Financial by 2.6% during the fourth quarter. Sigma Planning Corp now owns 19,885 shares of the financial services provider’s stock valued at $379,000 after acquiring an additional 498 shares during the last quarter. Trust Co. of Vermont raised its stake in Manulife Financial by 3.3% during the first quarter. Trust Co. of Vermont now owns 15,765 shares of the financial services provider’s stock worth $337,000 after buying an additional 500 shares during the last quarter. AdvisorNet Financial Inc raised its stake in Manulife Financial by 9.8% during the first quarter. AdvisorNet Financial Inc now owns 6,104 shares of the financial services provider’s stock worth $130,000 after buying an additional 543 shares during the last quarter. Todd Asset Management LLC raised its stake in Manulife Financial by 1.6% during the first quarter. Todd Asset Management LLC now owns 46,300 shares of the financial services provider’s stock worth $989,000 after buying an additional 726 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Manulife Financial by 2.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 26,060 shares of the financial services provider’s stock worth $497,000 after buying an additional 734 shares during the last quarter. Institutional investors own 47.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MFC shares. Royal Bank of Canada lowered their target price on shares of Manulife Financial from C$29.00 to C$26.00 in a research note on Friday, May 13th. Canaccord Genuity Group downgraded shares of Manulife Financial from a “buy” rating to a “hold” rating in a research note on Friday, May 13th. Scotiabank raised shares of Manulife Financial from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, July 27th. Desjardins downgraded shares of Manulife Financial from a “buy” rating to a “hold” rating in a research note on Friday, May 13th. Finally, Canaccord Genuity Group downgraded shares of Manulife Financial from a “buy” rating to a “hold” rating in a research note on Friday, May 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $30.33.

Manulife Financial Price Performance

Shares of NYSE MFC opened at $18.24 on Friday. The stock has a market capitalization of $34.86 billion, a P/E ratio of 4.90, a P/E/G ratio of 0.73 and a beta of 1.17. The company has a 50-day moving average price of $17.60 and a 200-day moving average price of $19.27. Manulife Financial Co. has a 1 year low of $16.27 and a 1 year high of $22.19.

Manulife Financial (NYSE:MFC – Get Rating) (TSE:MFC) last issued its quarterly earnings data on Wednesday, May 11th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.05). The firm had revenue of $11.77 billion for the quarter, compared to analysts’ expectations of $14.82 billion. As a group, equities research analysts anticipate that Manulife Financial Co. will post 2.5 earnings per share for the current fiscal year.

Manulife Financial Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 20th. Investors of record on Wednesday, May 25th were issued a dividend of $0.257 per share. This represents a $1.03 annualized dividend and a yield of 5.64%. The ex-dividend date was Tuesday, May 24th. Manulife Financial’s dividend payout ratio (DPR) is presently 27.69%.

Manulife Financial Profile

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Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, 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 provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks.

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