The Manufacturers Life Insurance Company Acquires 75,402 Shares of Burford Capital Limited (NYSE:BUR)

The Manufacturers Life Insurance Company grew its position in shares of Burford Capital Limited (NYSE:BURFree Report) by 456.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,905 shares of the company’s stock after acquiring an additional 75,402 shares during the period. The Manufacturers Life Insurance Company’s holdings in Burford Capital were worth $1,196,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Steamboat Capital Partners LLC raised its stake in shares of Burford Capital by 1.7% during the first quarter. Steamboat Capital Partners LLC now owns 43,663 shares of the company’s stock valued at $697,000 after acquiring an additional 727 shares during the last quarter. LGT Group Foundation raised its stake in shares of Burford Capital by 7.9% during the second quarter. LGT Group Foundation now owns 21,140 shares of the company’s stock valued at $273,000 after acquiring an additional 1,540 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of Burford Capital by 5.2% during the first quarter. Quantbot Technologies LP now owns 42,576 shares of the company’s stock valued at $680,000 after acquiring an additional 2,120 shares during the last quarter. Clear Harbor Asset Management LLC raised its stake in shares of Burford Capital by 6.0% during the second quarter. Clear Harbor Asset Management LLC now owns 74,579 shares of the company’s stock valued at $973,000 after acquiring an additional 4,244 shares during the last quarter. Finally, Allegheny Financial Group LTD raised its stake in shares of Burford Capital by 26.5% during the second quarter. Allegheny Financial Group LTD now owns 26,590 shares of the company’s stock valued at $347,000 after acquiring an additional 5,578 shares during the last quarter.

Burford Capital Price Performance

BUR stock opened at $13.45 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 11.01 and a quick ratio of 11.01. Burford Capital Limited has a 1 year low of $12.07 and a 1 year high of $16.77. The firm has a 50-day moving average of $13.13 and a 200 day moving average of $13.94.

Burford Capital (NYSE:BURGet Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.10). The company had revenue of $159.65 million during the quarter, compared to analysts’ expectations of $153.00 million. Burford Capital had a return on equity of 12.58% and a net margin of 45.81%. As a group, equities research analysts anticipate that Burford Capital Limited will post 1.09 EPS for the current fiscal year.

Burford Capital Dividend Announcement

The firm also recently announced a Semi-Annual dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.063 per share. The ex-dividend date is Friday, November 1st. This represents a yield of 2%. Burford Capital’s dividend payout ratio is 6.78%.

Analyst Ratings Changes

Several equities analysts have recently commented on BUR shares. Wedbush reaffirmed an “outperform” rating and set a $18.00 price objective on shares of Burford Capital in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Burford Capital in a research note on Friday, September 6th. They issued a “buy” rating and a $18.00 price target for the company. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $22.50 price target on shares of Burford Capital in a research note on Tuesday, July 2nd.

Check Out Our Latest Stock Report on Burford Capital

Burford Capital Company Profile

(Free Report)

Burford Capital Limited provides legal finance products and services worldwide. The company operates through two segments, Capital Provision, and Asset Management and Other Provision. The Capital Provision segment provides capital to the legal industry or in connection with legal matters directly and through investment in private funds; legal risk management services; lower risk legal finance business focusing on pre-settlement litigation matters with lower risk and lower expected returns; post-settlement finance; and complex strategies in which it acts as a principal and acquires assets that are mispriced.

Further Reading

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Institutional Ownership by Quarter for Burford Capital (NYSE:BUR)

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