Several hedge funds recently bought and sold shares of Manulife Financial. Yousif Capital increased its stake by 1.5%, owning 30,377 shares worth $759,000 after adding 460 shares. Indiana Trust boosted its position by 22.2%, now holding 2,540 shares valued at $68,000 after acquiring 462 shares. Addison Advisors raised their stake by 77.2%, owning 1,072 shares worth $29,000 after adding 467 shares. First Affirmative increased its share by 4.5%, holding 11,086 shares valued at $277,000 after acquiring 482 shares. Lastly, Bruce G. Allen Investments grew their position by 73.6%, now owning 1,156 shares worth $29,000 after buying 490 shares. Overall, hedge funds own 52.56% of the company’s stock.
Wall Street Analyst Opinions
Analysts have provided insights on MFC shares. Dbs Bank rated Manulife Financial as a “strong buy” on August 8. TD Securities raised the price target from $38 to $40, maintaining a “buy” rating on June 28. Barclays began coverage, assigning an “equal weight” rating on September 5. One analyst suggested holding the stock, six rated it as a buy, and one rated it as a strong buy. Currently, Manulife has an average rating of “Buy” with a target price of $35.67.
Manulife Financial Stock Performance
MFC opened at $30.39 on Friday, with a 50-day moving average of $27.66 and a 200-day average of $26.19. The stock has a 52-week low of $17.07 and a high of $30.52, with a market cap of $54.39 billion, a PE ratio of 17.67, and a beta of 1.08.
On August 7, the company reported quarterly earnings of $0.91 EPS, exceeding estimates of $0.64. Manulife had a revenue of $9.41 billion, topping the $8.95 billion estimate.
Recent Dividend Announcement
Manulife declared a quarterly dividend of $0.29 per share, payable on September 19 to shareholders recorded on August 21. This results in an annual dividend of $1.16, with a yield of 3.82% and a payout ratio of 66.86%.
Company Overview
Manulife Financial Corporation, along with its subsidiaries, offers financial products and services in various regions, including the U.S., Canada, and Asia. The company operates through Wealth and Asset Management, Insurance and Annuity Products, and Corporate segments, providing investment advice and solutions through different distribution channels.
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