KAMES CAPITAL plc Invests $1.16 Million in Manulife Financial Co. (MFC) Stock
KAMES CAPITAL plc bought a new stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 64,759 shares of the financial services provider’s stock, valued at approximately $1,157,000.
Other large investors also recently modified their holdings of the company. Cerebellum GP LLC purchased a new stake in Manulife Financial in the 3rd quarter valued at $149,000. MUFG Americas Holdings Corp grew its holdings in shares of Manulife Financial by 61.0% during the 2nd quarter. MUFG Americas Holdings Corp now owns 8,343 shares of the financial services provider’s stock worth $150,000 after purchasing an additional 3,160 shares during the period. RMB Capital Management LLC purchased a new position in shares of Manulife Financial during the 1st quarter worth $187,000. ProVise Management Group LLC purchased a new position in shares of Manulife Financial during the 2nd quarter worth $191,000. Finally, We Are One Seven LLC purchased a new position in shares of Manulife Financial during the 3rd quarter worth $227,000. Institutional investors own 46.12% of the company’s stock.
A number of research firms have recently weighed in on MFC. Zacks Investment Research upgraded Manulife Financial from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Friday, October 5th. ValuEngine cut Manulife Financial from a “sell” rating to a “strong sell” rating in a report on Thursday, August 2nd. Morgan Stanley lowered their price target on Manulife Financial from $27.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, July 11th. Finally, Evercore ISI began coverage on Manulife Financial in a report on Tuesday, July 10th. They set an “in-line” rating for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Manulife Financial has a consensus rating of “Buy” and an average price target of $25.67.
Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, August 8th. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.21. The business had revenue of $10.59 billion during the quarter. Manulife Financial had a return on equity of 12.69% and a net margin of 4.22%. During the same quarter in the prior year, the company posted $0.57 earnings per share. As a group, research analysts predict that Manulife Financial Co. will post 2.03 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 19th. Stockholders of record on Tuesday, August 21st were issued a dividend of $0.169 per share. The ex-dividend date of this dividend was Monday, August 20th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.13. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.30%. Manulife Financial’s dividend payout ratio is currently 39.77%.
About Manulife Financial
Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance through insurance agents, brokers, banks, financial planners, and direct marketing.
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