Prudential PLC Has $426,000 Holdings in Manulife Financial Co. (NYSE:MFC)

Prudential PLC decreased its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 98.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,007 shares of the financial services provider’s stock after selling 1,120,345 shares during the quarter. Prudential PLC’s holdings in Manulife Financial were worth $426,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of MFC. Yousif Capital Management LLC lifted its stake in Manulife Financial by 1.5% in the first quarter. Yousif Capital Management LLC now owns 30,377 shares of the financial services provider’s stock valued at $759,000 after purchasing an additional 460 shares during the last quarter. Indiana Trust & Investment Management CO boosted its position in Manulife Financial by 22.2% during the 2nd quarter. Indiana Trust & Investment Management CO now owns 2,540 shares of the financial services provider’s stock valued at $68,000 after buying an additional 462 shares during the period. Addison Advisors LLC grew its stake in shares of Manulife Financial by 77.2% in the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 467 shares during the last quarter. First Affirmative Financial Network raised its holdings in shares of Manulife Financial by 4.5% during the first quarter. First Affirmative Financial Network now owns 11,086 shares of the financial services provider’s stock valued at $277,000 after acquiring an additional 482 shares in the last quarter. Finally, Bruce G. Allen Investments LLC lifted its position in shares of Manulife Financial by 73.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 1,156 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 490 shares during the period. Institutional investors own 52.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MFC shares. Barclays started coverage on shares of Manulife Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating for the company. TD Securities upped their target price on shares of Manulife Financial from $38.00 to $40.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.67.

Manulife Financial Stock Up 0.5 %

Shares of Manulife Financial stock opened at $28.08 on Friday. The business has a 50-day moving average price of $26.45 and a 200-day moving average price of $25.43. Manulife Financial Co. has a twelve month low of $17.07 and a twelve month high of $28.17. The firm has a market cap of $49.70 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 1.02 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.27. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. The firm had revenue of $9.41 billion for the quarter, compared to the consensus estimate of $8.95 billion. During the same period in the previous year, the firm posted $0.62 EPS. On average, equities analysts expect that Manulife Financial Co. will post 2.72 EPS for the current fiscal year.

Manulife Financial Dividend Announcement

The company also recently announced 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 4.13%. Manulife Financial’s dividend payout ratio (DPR) is presently 67.44%.

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.