Mercer Global Advisors Inc. ADV Acquires 1,589 Shares of Manulife Financial Co. (NYSE:MFC)

Mercer Global Advisors Inc. ADV lifted its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 5.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,456 shares of the financial services provider’s stock after buying an additional 1,589 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Manulife Financial were worth $811,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MFC. Grove Bank & Trust bought a new stake in shares of Manulife Financial during the second quarter valued at approximately $25,000. Fortis Group Advisors LLC increased its stake in shares of Manulife Financial by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 1,210 shares of the financial services provider’s stock valued at $27,000 after buying an additional 605 shares during the period. Bruce G. Allen Investments LLC raised its position in shares of Manulife Financial by 73.6% during the first quarter. Bruce G. Allen Investments LLC now owns 1,156 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 490 shares during the last quarter. Addison Advisors LLC lifted its stake in shares of Manulife Financial by 77.2% during the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 467 shares during the period. Finally, HHM Wealth Advisors LLC boosted its holdings in Manulife Financial by 119.0% in the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Analyst Upgrades and Downgrades

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

Manulife Financial Stock Up 1.7 %

Shares of NYSE MFC opened at $29.64 on Friday. Manulife Financial Co. has a twelve month low of $17.07 and a twelve month high of $29.88. The company’s fifty day moving average is $26.73 and its 200-day moving average is $25.71. The stock has a market cap of $53.04 billion, a price-to-earnings ratio of 17.23, a P/E/G ratio of 1.06 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 the consensus estimate of $0.64 by $0.27. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. The firm had revenue of $9.41 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same period in the previous year, the company posted $0.62 earnings per share. On average, research analysts anticipate that Manulife Financial Co. will post 2.72 EPS for the current fiscal year.

Manulife Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.16 annualized dividend and a yield of 3.91%. Manulife Financial’s dividend payout ratio (DPR) is currently 66.86%.

About Manulife Financial

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.