Allspring Global Investments Holdings LLC Acquires 25,486 Shares of Manulife Financial Co. (NYSE:MFC)

Allspring Global Investments Holdings LLC raised its holdings in shares of Manulife Financial Co. (NYSE:MFCGet Rating) (TSE:MFC) by 84.1% in the 3rd quarter, Holdings Channel reports. The firm owned 55,792 shares of the financial services provider’s stock after purchasing an additional 25,486 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Manulife Financial were worth $873,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pinnacle Bancorp Inc. bought a new stake in shares of Manulife Financial during the third quarter worth $25,000. Tsfg LLC lifted its position in shares of Manulife Financial by 145.7% during the third quarter. Tsfg LLC now owns 1,693 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,004 shares during the last quarter. Artemis Wealth Advisors LLC bought a new stake in shares of Manulife Financial during the second quarter worth $30,000. Ronald Blue Trust Inc. raised its holdings in shares of Manulife Financial by 100.7% in the third quarter. Ronald Blue Trust Inc. now owns 1,736 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 871 shares in the last quarter. Finally, Grayhawk Investment Strategies Inc. bought a new stake in shares of Manulife Financial in the second quarter valued at about $69,000. 43.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. StockNews.com assumed coverage on Manulife Financial in a report on Wednesday, October 12th. They issued a “hold” rating for the company. National Bank Financial decreased their price objective on Manulife Financial from C$25.00 to C$24.00 in a report on Friday, October 28th. Credit Suisse Group assumed coverage on Manulife Financial in a report on Thursday, January 12th. They issued a “neutral” rating for the company. Finally, Barclays decreased their price objective on Manulife Financial from C$30.00 to C$29.00 in a report on Wednesday, October 12th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $28.86.

Manulife Financial Stock Performance

Shares of Manulife Financial stock opened at $19.06 on Monday. The company has a market capitalization of $35.54 billion, a PE ratio of 6.48, a P/E/G ratio of 0.81 and a beta of 1.12. The company has a 50-day simple moving average of $17.98 and a two-hundred day simple moving average of $17.44. Manulife Financial Co. has a one year low of $14.92 and a one year high of $22.19.

Manulife Financial (NYSE:MFCGet Rating) (TSE:MFC) last issued its quarterly earnings results on Wednesday, November 9th. The financial services provider reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $11.51 billion. On average, equities analysts predict that Manulife Financial Co. will post 2.27 earnings per share for the current fiscal year.

Manulife Financial Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 19th. Stockholders of record on Tuesday, November 22nd were paid a dividend of $0.242 per share. The ex-dividend date of this dividend was Monday, November 21st. This represents a $0.97 dividend on an annualized basis and a dividend yield of 5.08%. Manulife Financial’s payout ratio is 32.99%.

Manulife Financial Company Profile

(Get Rating)

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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