Choreo LLC Makes New $2.34 Million Investment in Manulife Financial Co. (NYSE:MFC)

Choreo LLC purchased a new stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 88,896 shares of the financial services provider’s stock, valued at approximately $2,338,000.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC acquired a new position in Manulife Financial in the fourth quarter valued at approximately $1,846,000. Principal Securities Inc. bought a new position in Manulife Financial during the 4th quarter worth $237,000. Vanguard Personalized Indexing Management LLC increased its position in Manulife Financial by 21.1% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 42,794 shares of the financial services provider’s stock worth $946,000 after buying an additional 7,449 shares during the period. Janney Montgomery Scott LLC lifted its stake in Manulife Financial by 3.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 88,799 shares of the financial services provider’s stock valued at $1,962,000 after buying an additional 2,906 shares during the last quarter. Finally, Wade G W & Inc. boosted its holdings in shares of Manulife Financial by 1.9% during the fourth quarter. Wade G W & Inc. now owns 762,727 shares of the financial services provider’s stock valued at $16,856,000 after acquiring an additional 14,411 shares during the period. Institutional investors own 52.56% of the company’s stock.

Analysts Set New Price Targets

MFC has been the topic of a number of analyst reports. TD Securities lifted their price objective on shares of Manulife Financial from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Barclays assumed coverage on Manulife Financial in a research report on Thursday, September 5th. They set an “equal weight” rating for the company. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.67.

Manulife Financial Trading Up 0.4 %

Manulife Financial stock opened at $27.46 on Wednesday. The company’s 50-day moving average price is $26.38 and its two-hundred day moving average price is $25.37. The stock has a market cap of $48.60 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 0.99 and a beta of 1.08. Manulife Financial Co. has a 52 week low of $17.07 and a 52 week high of $27.82.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $0.91 EPS 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 analysts’ expectations of $8.95 billion. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. During the same quarter in the previous year, the company earned $0.62 earnings per share. Research analysts expect that Manulife Financial Co. will post 2.72 earnings per share for the current fiscal year.

Manulife Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st will be issued a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $1.16 annualized dividend and a dividend yield of 4.22%. Manulife Financial’s dividend payout ratio (DPR) is 67.44%.

Manulife Financial 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.