Allspring Global Investments Holdings LLC Boosts Stake in Manulife Financial Co. (NYSE:MFC)

Allspring Global Investments Holdings LLC increased its position in Manulife Financial Co. (NYSE:MFCGet Rating) (TSE:MFC) by 84.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,792 shares of the financial services provider’s stock after acquiring an additional 25,486 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Manulife Financial were worth $873,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MFC. Pinnacle Bancorp Inc. bought a new stake in shares of Manulife Financial in the third quarter worth $25,000. Tsfg LLC grew its holdings in Manulife Financial by 145.7% during the third quarter. Tsfg LLC now owns 1,693 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 1,004 shares during the period. Artemis Wealth Advisors LLC bought a new stake in Manulife Financial during the second quarter valued at about $30,000. Ronald Blue Trust Inc. grew its holdings in Manulife Financial by 100.7% during the third quarter. Ronald Blue Trust Inc. now owns 1,736 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 871 shares during the period. Finally, Hexagon Capital Partners LLC grew its holdings in Manulife Financial by 311.5% during the third quarter. Hexagon Capital Partners LLC now owns 3,539 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 2,679 shares during the period. Institutional investors own 43.42% of the company’s stock.

Manulife Financial Price Performance

NYSE MFC opened at $19.06 on Monday. Manulife Financial Co. has a 1-year low of $14.92 and a 1-year high of $22.19. The business has a 50 day simple moving average of $17.98 and a two-hundred day simple moving average of $17.44. The stock 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.

Manulife Financial (NYSE:MFCGet Rating) (TSE:MFC) last posted its 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 company had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $11.51 billion. On average, analysts anticipate that Manulife Financial Co. will post 2.27 EPS for the current fiscal year.

Manulife Financial Cuts Dividend

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

Analyst Upgrades and Downgrades

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

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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