OPTIMAS CAPITAL Ltd Invests $8.02 Million in Manulife Financial Corp $MFC

OPTIMAS CAPITAL Ltd bought a new stake in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 257,500 shares of the financial services provider’s stock, valued at approximately $8,021,000. Manulife Financial makes up 5.1% of OPTIMAS CAPITAL Ltd’s portfolio, making the stock its 7th largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Manulife Financial by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 76,336,875 shares of the financial services provider’s stock worth $2,440,795,000 after buying an additional 2,003,226 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in Manulife Financial by 3.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 25,155,652 shares of the financial services provider’s stock valued at $803,975,000 after buying an additional 730,187 shares in the last quarter. Norges Bank bought a new stake in Manulife Financial in the second quarter valued at $632,238,000. Geode Capital Management LLC raised its stake in Manulife Financial by 19.4% during the second quarter. Geode Capital Management LLC now owns 14,008,595 shares of the financial services provider’s stock worth $453,798,000 after acquiring an additional 2,276,251 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Manulife Financial by 5.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,015,008 shares of the financial services provider’s stock valued at $384,409,000 after acquiring an additional 567,834 shares during the period. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Price Performance

MFC opened at $38.08 on Monday. The stock has a market capitalization of $63.87 billion, a P/E ratio of 16.92 and a beta of 0.83. The company’s 50 day simple moving average is $36.64 and its 200-day simple moving average is $33.53. Manulife Financial Corp has a one year low of $25.92 and a one year high of $38.72.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, November 12th. The financial services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.10. The firm had revenue of $12.90 billion during the quarter. Manulife Financial had a net margin of 9.81% and a return on equity of 16.11%. During the same quarter last year, the firm earned $1.00 EPS. As a group, analysts anticipate that Manulife Financial Corp will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Wednesday, November 26th were issued a $0.44 dividend. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.32. This represents a $1.76 annualized dividend and a yield of 4.6%. The ex-dividend date was Wednesday, November 26th. Manulife Financial’s dividend payout ratio (DPR) is 55.56%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MFC. UBS Group assumed coverage on shares of Manulife Financial in a report on Thursday, October 16th. They issued a “buy” rating on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research note on Thursday. Canadian Imperial Bank of Commerce upgraded shares of Manulife Financial from a “neutral” rating to an “outperform” rating in a research note on Thursday, January 8th. Royal Bank Of Canada increased their price target on Manulife Financial from $49.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, November 14th. Finally, Weiss Ratings raised Manulife Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, January 29th. Two analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. Based on data from MarketBeat, Manulife Financial has a consensus rating of “Buy” and a consensus target price of $51.50.

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.