TD Waterhouse Canada Inc. Buys 25,591 Shares of Manulife Financial Corp $MFC

by · The Markets Daily

TD Waterhouse Canada Inc. boosted its stake in shares of Manulife Financial Corp (NYSE:MFC – Free Report) (TSE:MFC) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,886,799 shares of the financial services provider’s stock after purchasing an additional 25,591 shares during the quarter. Manulife Financial comprises 1.6% of TD Waterhouse Canada Inc.’s holdings, making the stock its 17th largest holding. TD Waterhouse Canada Inc. owned 0.41% of Manulife Financial worth $249,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in MFC. Root Financial Partners LLC bought a new stake in Manulife Financial during the third quarter valued at about $25,000. Wolff Wiese Magana LLC lifted its holdings in shares of Manulife Financial by 269.2% during the fourth quarter. Wolff Wiese Magana LLC now owns 960 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 700 shares during the period. American Wealth Advisors LLC acquired a new stake in shares of Manulife Financial during the third quarter worth about $36,000. Steigerwald Gordon & Koch Inc. raised its position in Manulife Financial by 208.8% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 1,022 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 691 shares in the last quarter. Finally, Clearstead Trust LLC raised its position in Manulife Financial by 144.4% during the third quarter. Clearstead Trust LLC now owns 1,256 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 742 shares in the last quarter. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Up 0.0%

Shares of Manulife Financial stock opened at $38.83 on Monday. Manulife Financial Corp has a 52 week low of $28.13 and a 52 week high of $39.22. The business’s fifty day simple moving average is $35.50 and its 200-day simple moving average is $35.17. The firm has a market cap of $64.92 billion, a PE ratio of 17.49 and a beta of 0.82.

Manulife Financial (NYSE:MFC – Get Free Report) (TSE:MFC) last announced its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.76 by $0.04. Manulife Financial had a return on equity of 16.43% and a net margin of 9.18%.The business had revenue of $11.32 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the prior year, the company posted $1.03 EPS. As a group, equities analysts expect that Manulife Financial Corp will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Wednesday, February 25th were paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Wednesday, February 25th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.44. Manulife Financial’s dividend payout ratio is currently 63.96%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research report on Thursday, February 5th. Weiss Ratings cut Manulife Financial from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, February 13th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Manulife Financial in a research report on Friday, February 13th. Finally, Canadian Imperial Bank of Commerce upgraded Manulife Financial from a “neutral” rating to an “outperform” rating in a research report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $51.50.

Check Out Our Latest Analysis on MFC

Manulife Financial Profile

(Free Report)

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.

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