Synovus Financial Corp Has $269,000 Stock Position in Manulife Financial Co. (NYSE:MFC)

Synovus Financial Corp raised its position in Manulife Financial Co. (NYSE:MFCGet Rating) (TSE:MFC) by 26.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,572 shares of the financial services provider’s stock after acquiring an additional 3,286 shares during the period. Synovus Financial Corp’s holdings in Manulife Financial were worth $269,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Resources Management Corp CT ADV raised its holdings in Manulife Financial by 1.2% in the 2nd quarter. Resources Management Corp CT ADV now owns 44,195 shares of the financial services provider’s stock valued at $766,000 after acquiring an additional 538 shares in the last quarter. Metis Global Partners LLC raised its holdings in shares of Manulife Financial by 0.8% in the 2nd quarter. Metis Global Partners LLC now owns 71,609 shares of the financial services provider’s stock worth $1,242,000 after buying an additional 588 shares in the last quarter. Brinker Capital Investments LLC raised its holdings in shares of Manulife Financial by 5.3% in the 1st quarter. Brinker Capital Investments LLC now owns 12,449 shares of the financial services provider’s stock worth $266,000 after buying an additional 624 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Manulife Financial by 1.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 57,371 shares of the financial services provider’s stock worth $1,002,000 after buying an additional 765 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of Manulife Financial by 66.7% in the 1st quarter. First Horizon Advisors Inc. now owns 2,076 shares of the financial services provider’s stock worth $45,000 after buying an additional 831 shares in the last quarter. Institutional investors and hedge funds own 44.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Scotiabank raised Manulife Financial from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, July 27th. National Bank Financial dropped their target price on Manulife Financial from C$25.00 to C$24.00 in a report on Friday, October 28th. Desjardins increased their target price on Manulife Financial from C$24.00 to C$25.00 in a report on Monday, August 15th. StockNews.com assumed coverage on Manulife Financial in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Barclays dropped their target price on Manulife Financial from C$30.00 to C$29.00 in a report on Wednesday, October 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.86.

Manulife Financial Price Performance

NYSE MFC opened at $17.61 on Monday. The firm has a market cap of $33.25 billion, a PE ratio of 5.99, a price-to-earnings-growth ratio of 0.78 and a beta of 1.14. Manulife Financial Co. has a one year low of $14.92 and a one year high of $22.19. The stock’s 50 day simple moving average is $16.52 and its 200 day simple moving average is $17.35.

Manulife Financial Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Tuesday, November 22nd will be given a dividend of $0.242 per share. The ex-dividend date of this dividend is Monday, November 21st. This represents a $0.97 dividend on an annualized basis and a yield of 5.50%. Manulife Financial’s dividend payout ratio (DPR) is presently 35.03%.

Manulife Financial Company 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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Institutional Ownership by Quarter for Manulife Financial (NYSE:MFC)

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