FMA Wealth Management LLC Trims Stake in Manulife Financial Co. (NYSE:MFC)

by · The Cerbat Gem

FMA Wealth Management LLC trimmed its position in Manulife Financial Co. (NYSE:MFC – Free Report) (TSE:MFC) by 11.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,898 shares of the financial services provider’s stock after selling 886 shares during the period. FMA Wealth Management LLC’s holdings in Manulife Financial were worth $204,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Integrated Advisors Network LLC grew its holdings in shares of Manulife Financial by 17.2% in the 4th quarter. Integrated Advisors Network LLC now owns 18,746 shares of the financial services provider’s stock worth $414,000 after acquiring an additional 2,750 shares during the period. Creekmur Asset Management LLC purchased a new position in Manulife Financial in the 4th quarter valued at about $30,000. Wellington Management Group LLP boosted its position in Manulife Financial by 4.0% during the fourth quarter. Wellington Management Group LLP now owns 424,195 shares of the financial services provider’s stock worth $9,419,000 after acquiring an additional 16,457 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Manulife Financial by 17.3% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 12,555 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 1,855 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Manulife Financial by 9.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 94,391 shares of the financial services provider’s stock worth $2,086,000 after buying an additional 8,123 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MFC. Barclays initiated coverage on shares of Manulife Financial in a report on Thursday, September 5th. They issued an “equal weight” rating on the stock. TD Securities lifted their price objective on Manulife Financial from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $35.67.

Read Our Latest Stock Analysis on MFC

Manulife Financial Stock Down 0.5 %

Shares of MFC traded down $0.16 during mid-day trading on Tuesday, reaching $30.32. 1,078,620 shares of the stock traded hands, compared to its average volume of 2,637,760. The firm has a market cap of $54.26 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 1.09 and a beta of 1.08. The stock has a fifty day simple moving average of $27.79 and a 200 day simple moving average of $26.24. Manulife Financial Co. has a 12-month low of $17.07 and a 12-month high of $30.54.

Manulife Financial (NYSE:MFC – Get Free Report) (TSE:MFC) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.27. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. The firm had revenue of $9.41 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same quarter in the previous year, the business posted $0.62 EPS. On average, equities research analysts expect that Manulife Financial Co. will post 2.73 earnings per share for the current fiscal year.

Manulife Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date was Wednesday, August 21st. Manulife Financial’s payout ratio is currently 66.86%.

Manulife Financial Profile

(Free Report)

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.

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