Raymond James & Associates Acquires 768 Shares of Manulife Financial Co. (NYSE:MFC)

Raymond James & Associates boosted its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 316,333 shares of the financial services provider’s stock after purchasing an additional 768 shares during the period. Raymond James & Associates’ holdings in Manulife Financial were worth $8,421,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Prudential PLC raised its holdings in Manulife Financial by 11.1% during the 4th quarter. Prudential PLC now owns 1,141,942 shares of the financial services provider’s stock worth $25,235,000 after purchasing an additional 114,213 shares during the last quarter. Duality Advisers LP grew its holdings in Manulife Financial by 795.2% during the 1st quarter. Duality Advisers LP now owns 217,658 shares of the financial services provider’s stock worth $5,439,000 after acquiring an additional 193,343 shares during the period. Alberta Investment Management Corp raised its position in shares of Manulife Financial by 21.4% in the 4th quarter. Alberta Investment Management Corp now owns 4,182,203 shares of the financial services provider’s stock worth $92,867,000 after acquiring an additional 737,203 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Manulife Financial by 2,913.7% in the 1st quarter. Bessemer Group Inc. now owns 86,615 shares of the financial services provider’s stock valued at $2,163,000 after purchasing an additional 83,741 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in shares of Manulife Financial during the 4th quarter valued at about $1,846,000. 52.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MFC has been the subject of a number of research analyst reports. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. National Bank Financial upgraded shares of Manulife Financial from a “sector perform” rating to an “outperform” rating in a research note on Thursday, May 9th. Finally, TD Securities increased their target price on shares of Manulife Financial from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $35.67.

Manulife Financial Stock Up 0.1 %

Shares of NYSE:MFC opened at $27.19 on Tuesday. The stock’s 50 day moving average is $26.09 and its 200-day moving average is $25.09. Manulife Financial Co. has a twelve month low of $17.07 and a twelve month high of $27.51. The firm has a market capitalization of $48.65 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 0.94 and a beta of 1.09.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.27. The firm had revenue of $9.41 billion for the quarter, compared to the consensus estimate of $8.95 billion. Manulife Financial had a net margin of 9.28% and a return on equity of 16.27%. During the same quarter in the prior year, the company posted $0.62 earnings per share. Equities research analysts anticipate that Manulife Financial Co. will post 2.72 earnings per share for the current fiscal year.

Manulife Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st will be paid a dividend of $0.29 per share. The ex-dividend date is Wednesday, August 21st. This represents a $1.16 dividend on an annualized basis and a yield of 4.27%. Manulife Financial’s dividend payout ratio (DPR) is currently 66.86%.

Manulife Financial Company Profile

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.