Mustard Seed Financial LLC Makes New $205,000 Investment in Manulife Financial Co. (NYSE:MFC)

Mustard Seed Financial LLC purchased a new position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,940 shares of the financial services provider’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds have also made changes to their positions in MFC. Vanguard Group Inc. increased its holdings in Manulife Financial by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 72,289,251 shares of the financial services provider’s stock worth $1,806,508,000 after buying an additional 727,764 shares during the period. National Bank of Canada FI boosted its holdings in shares of Manulife Financial by 14.8% in the 1st quarter. National Bank of Canada FI now owns 28,803,968 shares of the financial services provider’s stock valued at $749,435,000 after acquiring an additional 3,720,693 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of Manulife Financial by 3.2% in the second quarter. Toronto Dominion Bank now owns 24,057,503 shares of the financial services provider’s stock worth $640,411,000 after acquiring an additional 750,422 shares during the period. 1832 Asset Management L.P. raised its holdings in shares of Manulife Financial by 34.3% during the second quarter. 1832 Asset Management L.P. now owns 19,723,609 shares of the financial services provider’s stock worth $525,042,000 after purchasing an additional 5,036,716 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Manulife Financial by 0.5% during the second quarter. Legal & General Group Plc now owns 14,783,400 shares of the financial services provider’s stock valued at $393,592,000 after purchasing an additional 75,244 shares during the period. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Trading Down 0.4 %

MFC traded down $0.11 during trading on Tuesday, hitting $30.37. The company’s stock had a trading volume of 452,882 shares, compared to its average volume of 2,633,688. The firm has a market capitalization of $54.35 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 1.09 and a beta of 1.08. Manulife Financial Co. has a twelve month low of $17.07 and a twelve month high of $30.54. The business’s fifty day simple moving average is $27.79 and its 200 day simple moving average is $26.24.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.27. The firm had revenue of $9.41 billion for the quarter, compared to analysts’ expectations of $8.95 billion. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. During the same quarter last year, the company earned $0.62 EPS. As a group, equities research analysts forecast that Manulife Financial Co. will post 2.73 earnings per share for the current fiscal year.

Manulife Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 21st were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, August 21st. This represents a $1.16 annualized dividend and a dividend yield of 3.82%. Manulife Financial’s dividend payout ratio (DPR) is presently 66.86%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Barclays started coverage on Manulife Financial in a research note on Thursday, September 5th. They set an “equal weight” rating for the company. TD Securities lifted their price target on Manulife Financial from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Manulife Financial has an average rating of “Buy” and a consensus target price of $35.67.

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.