West Family Investments Inc. Has $630,000 Stock Holdings in Manulife Financial Corp $MFC

by · The Markets Daily

West Family Investments Inc. increased its position in shares of Manulife Financial Corp (NYSE:MFC – Free Report) (TSE:MFC) by 13.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 19,718 shares of the financial services provider’s stock after buying an additional 2,276 shares during the quarter. West Family Investments Inc.’s holdings in Manulife Financial were worth $630,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MFC. Wealth Alliance LLC grew its stake in shares of Manulife Financial by 1.7% in the 2nd quarter. Wealth Alliance LLC now owns 20,984 shares of the financial services provider’s stock valued at $671,000 after buying an additional 345 shares in the last quarter. Blair William & Co. IL lifted its stake in Manulife Financial by 1.9% in the first quarter. Blair William & Co. IL now owns 19,878 shares of the financial services provider’s stock valued at $619,000 after acquiring an additional 377 shares during the last quarter. Sachetta LLC grew its position in Manulife Financial by 15.2% in the second quarter. Sachetta LLC now owns 3,005 shares of the financial services provider’s stock worth $96,000 after acquiring an additional 396 shares in the last quarter. Apollon Wealth Management LLC increased its stake in shares of Manulife Financial by 2.2% during the 2nd quarter. Apollon Wealth Management LLC now owns 19,059 shares of the financial services provider’s stock worth $609,000 after purchasing an additional 402 shares during the last quarter. Finally, New England Capital Financial Advisors LLC raised its holdings in shares of Manulife Financial by 7.4% during the 2nd quarter. New England Capital Financial Advisors LLC now owns 5,939 shares of the financial services provider’s stock valued at $190,000 after purchasing an additional 411 shares in the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Price Performance

Shares of MFC stock opened at $35.51 on Friday. Manulife Financial Corp has a one year low of $25.92 and a one year high of $35.57. The stock has a fifty day moving average price of $32.73 and a 200 day moving average price of $31.68. The stock has a market cap of $59.83 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 1.13 and a beta of 0.98.

Manulife Financial (NYSE:MFC – Get Free Report) (TSE:MFC) last announced its quarterly earnings results on Wednesday, November 12th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.10. The firm had revenue of $12.90 billion for the quarter. Manulife Financial had a net margin of 10.46% and a return on equity of 15.77%. During the same period last year, the firm earned $1.00 EPS. Equities research analysts anticipate that Manulife Financial Corp will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Wednesday, November 26th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 5.0%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, November 26th. Manulife Financial’s dividend payout ratio (DPR) is currently 55.56%.

Analyst Ratings Changes

A number of brokerages recently issued reports on MFC. UBS Group began coverage on shares of Manulife Financial in a report on Thursday, October 16th. They issued a “buy” rating for the company. BMO Capital Markets reiterated an “outperform” rating on shares of Manulife Financial in a research note on Friday, November 14th. Royal Bank Of Canada boosted their target price on Manulife Financial from $49.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Manulife Financial in a research note on Monday, November 24th. Finally, Morgan Stanley set a $47.00 price target on Manulife Financial in a research report on Tuesday, October 7th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $49.50.

Get Our Latest Research Report on Manulife Financial

Manulife Financial Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding MFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manulife Financial Corp (NYSE:MFC – Free Report) (TSE:MFC).