Manulife Financial Co. (NYSE:MFC) Shares Bought by Cwm LLC

Cwm LLC boosted its stake in shares of Manulife Financial Co. (NYSE:MFCGet Rating) (TSE:MFC) by 16.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,874 shares of the financial services provider’s stock after purchasing an additional 1,242 shares during the period. Cwm LLC’s holdings in Manulife Financial were worth $139,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its position in shares of Manulife Financial by 154.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 56,724 shares of the financial services provider’s stock valued at $895,000 after acquiring an additional 34,403 shares during the period. Veriti Management LLC grew its position in shares of Manulife Financial by 16.2% during the 3rd quarter. Veriti Management LLC now owns 29,456 shares of the financial services provider’s stock valued at $462,000 after acquiring an additional 4,112 shares during the period. Grace & White Inc. NY grew its position in shares of Manulife Financial by 0.3% during the 3rd quarter. Grace & White Inc. NY now owns 436,230 shares of the financial services provider’s stock valued at $6,835,000 after acquiring an additional 1,200 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Manulife Financial by 84.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 55,792 shares of the financial services provider’s stock valued at $873,000 after buying an additional 25,486 shares in the last quarter. Finally, Truist Financial Corp lifted its stake in Manulife Financial by 258.4% in the 3rd quarter. Truist Financial Corp now owns 178,053 shares of the financial services provider’s stock valued at $2,790,000 after buying an additional 128,379 shares in the last quarter. 43.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MFC. National Bank Financial decreased their target price on shares of Manulife Financial from C$25.00 to C$24.00 in a research note on Friday, October 28th. Credit Suisse Group began coverage on shares of Manulife Financial in a research note on Thursday, January 12th. They issued a “neutral” rating on the stock. StockNews.com began coverage on shares of Manulife Financial in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Barclays decreased their target price on shares of Manulife Financial from C$30.00 to C$29.00 in a research note on Wednesday, October 12th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Manulife Financial has a consensus rating of “Hold” and an average price target of $28.86.

Manulife Financial Stock Up 0.1 %

Shares of Manulife Financial stock opened at $18.95 on Tuesday. Manulife Financial Co. has a 52-week low of $14.92 and a 52-week high of $22.19. The company’s 50-day simple moving average is $17.84 and its 200-day simple moving average is $17.39. The firm has a market cap of $35.34 billion, a price-to-earnings ratio of 6.45, a price-to-earnings-growth ratio of 0.80 and a beta of 1.12.

Manulife Financial (NYSE:MFCGet Rating) (TSE:MFC) last announced its quarterly earnings results on Wednesday, November 9th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.02). The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $11.51 billion. Equities research analysts anticipate that Manulife Financial Co. will post 2.27 EPS for the current year.

Manulife Financial Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 19th. Shareholders of record on Tuesday, November 22nd were issued a $0.242 dividend. This represents a $0.97 annualized dividend and a dividend yield of 5.11%. The ex-dividend date was Monday, November 21st. Manulife Financial’s dividend payout ratio (DPR) is presently 32.99%.

Manulife Financial 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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