Mawer Investment Management Ltd. Boosts Position in Manulife Financial Corp (MFC)
Mawer Investment Management Ltd. increased its stake in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 3.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,738,383 shares of the financial services provider’s stock after purchasing an additional 367,415 shares during the quarter. Manulife Financial Corp makes up approximately 1.9% of Mawer Investment Management Ltd.’s portfolio, making the stock its 20th largest position. Mawer Investment Management Ltd. owned about 0.54% of Manulife Financial Corp worth $217,931,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Ropes Wealth Advisors LLC acquired a new stake in Manulife Financial Corp in the second quarter valued at approximately $103,000. D.A. Davidson & CO. lifted its stake in Manulife Financial Corp by 17.5% in the second quarter. D.A. Davidson & CO. now owns 6,768 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 1,010 shares during the last quarter. Sadoff Investment Management LLC acquired a new stake in Manulife Financial Corp in the second quarter valued at approximately $188,000. Northwestern Mutual Wealth Management Co. lifted its stake in Manulife Financial Corp by 25.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,284 shares of the financial services provider’s stock valued at $193,000 after acquiring an additional 2,103 shares during the last quarter. Finally, YHB Investment Advisors Inc. acquired a new stake in Manulife Financial Corp in the second quarter valued at approximately $202,000. Hedge funds and other institutional investors own 46.68% of the company’s stock.
A number of analysts have issued reports on MFC shares. Zacks Investment Research upgraded shares of Manulife Financial Corp from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, October 10th. Morgan Stanley lifted their target price on shares of Manulife Financial Corp from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, October 5th. Finally, ValuEngine cut shares of Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 18th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $25.00.
Manulife Financial Corp (NYSE:MFC) traded down $0.20 during midday trading on Tuesday, reaching $20.90. 1,672,500 shares of the company’s stock were exchanged, compared to its average volume of 2,383,215. Manulife Financial Corp has a 1 year low of $16.62 and a 1 year high of $21.69. The firm has a market capitalization of $41,360.00, a PE ratio of 12.20, a PEG ratio of 1.26 and a beta of 1.31.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Tuesday, November 21st will be given a $0.1606 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Monday, November 20th. Manulife Financial Corp’s dividend payout ratio is 46.15%.
About Manulife Financial Corp
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.
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