Benjamin F. Edwards & Company Inc. reduced its stake in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 9.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,372 shares of the financial services provider’s stock after selling 3,046 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Manulife Financial Corp were worth $551,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of MFC. Acadian Asset Management LLC boosted its stake in Manulife Financial Corp by 22.9% in the first quarter. Acadian Asset Management LLC now owns 467,700 shares of the financial services provider’s stock valued at $8,273,000 after buying an additional 87,200 shares in the last quarter. Korea Investment CORP boosted its position in shares of Manulife Financial Corp by 269.0% in the first quarter. Korea Investment CORP now owns 1,160,497 shares of the financial services provider’s stock worth $20,527,000 after buying an additional 845,997 shares during the period. Huntington National Bank boosted its position in shares of Manulife Financial Corp by 220.4% in the first quarter. Huntington National Bank now owns 10,354 shares of the financial services provider’s stock worth $184,000 after buying an additional 7,122 shares during the period. Coastline Trust Co boosted its position in shares of Manulife Financial Corp by 8.3% in the first quarter. Coastline Trust Co now owns 63,120 shares of the financial services provider’s stock worth $1,120,000 after buying an additional 4,850 shares during the period. Finally, First National Bank & Trust Co. of Newtown boosted its position in shares of Manulife Financial Corp by 5.7% in the first quarter. First National Bank & Trust Co. of Newtown now owns 10,892 shares of the financial services provider’s stock worth $193,000 after buying an additional 586 shares during the period. 48.27% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Corp (NYSE:MFC) traded up 2.35% during mid-day trading on Friday, reaching $19.62. 3,083,062 shares of the company’s stock were exchanged. The firm has a market capitalization of $38.48 billion, a P/E ratio of 13.44 and a beta of 1.30. The company’s 50-day moving average is $19.67 and its 200 day moving average is $18.38. Manulife Financial Corp has a one year low of $13.16 and a one year high of $20.84.

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The company had revenue of $12.34 billion during the quarter, compared to analysts’ expectations of $16.09 billion. During the same period in the previous year, the business earned $0.40 earnings per share. Equities analysts predict that Manulife Financial Corp will post $1.73 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Tuesday, August 22nd will be given a $0.1621 dividend. This is a positive change from Manulife Financial Corp’s previous quarterly dividend of $0.15. This represents a $0.65 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Friday, August 18th. Manulife Financial Corp’s dividend payout ratio (DPR) is presently 43.48%.

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A number of brokerages recently issued reports on MFC. Zacks Investment Research raised shares of Manulife Financial Corp from a “sell” rating to a “hold” rating and set a $22.00 price target for the company in a research report on Monday, July 10th. BidaskClub raised shares of Manulife Financial Corp from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. National Bank Financial reissued a “sector perform overweight” rating on shares of Manulife Financial Corp in a research report on Wednesday, May 3rd. Finally, ValuEngine cut shares of Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $23.33.

Manulife Financial Corp Company Profile

Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.

Institutional Ownership by Quarter for Manulife Financial Corp (NYSE:MFC)

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