Manulife Financial Corp $MFC Position Decreased by Varma Mutual Pension Insurance Co
by Amy Steele · The Cerbat GemVarma Mutual Pension Insurance Co decreased its holdings in shares of Manulife Financial Corp (NYSE:MFC – Free Report) (TSE:MFC) by 3.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 400,339 shares of the financial services provider’s stock after selling 14,200 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Manulife Financial were worth $14,556,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in MFC. Root Financial Partners LLC bought a new position in shares of Manulife Financial during the 3rd quarter valued at about $25,000. Wolff Wiese Magana LLC boosted its position in shares of Manulife Financial by 269.2% during the 4th quarter. Wolff Wiese Magana LLC now owns 960 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 700 shares in the last quarter. American Wealth Advisors LLC bought a new position in shares of Manulife Financial during the 3rd quarter valued at about $36,000. Steigerwald Gordon & Koch Inc. boosted its position in shares of Manulife Financial by 208.8% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 1,022 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 691 shares in the last quarter. Finally, Clearstead Trust LLC boosted its position in shares of Manulife Financial by 144.4% during the 3rd quarter. Clearstead Trust LLC now owns 1,256 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 742 shares in the last quarter. Institutional investors own 52.56% of the company’s stock.
Manulife Financial Stock Performance
Manulife Financial stock opened at $38.51 on Tuesday. Manulife Financial Corp has a twelve month low of $29.70 and a twelve month high of $39.69. The firm has a market cap of $64.40 billion, a PE ratio of 17.35 and a beta of 0.87. The firm’s 50 day moving average price is $35.77 and its two-hundred day moving average price is $35.59.
Manulife Financial (NYSE:MFC – Get Free Report) (TSE:MFC) last released its earnings results on Wednesday, February 11th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. Manulife Financial had a net margin of 9.18% and a return on equity of 16.43%. The company had revenue of $11.32 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. Equities analysts anticipate that Manulife Financial Corp will post 3.22 EPS for the current fiscal year.
Manulife Financial Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Wednesday, February 25th were given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Wednesday, February 25th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.44. Manulife Financial’s payout ratio is currently 63.96%.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on MFC. Royal Bank Of Canada restated an “outperform” rating on shares of Manulife Financial in a research report on Friday, February 13th. Canadian Imperial Bank of Commerce upgraded shares of Manulife Financial from a “neutral” rating to an “outperform” rating in a report on Thursday, January 8th. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a report on Wednesday, April 29th. Finally, Weiss Ratings cut shares of Manulife Financial from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $51.50.
Get Our Latest Analysis on Manulife Financial
Manulife Financial Company Profile
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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