KAMES CAPITAL plc Invests $1.16 Million in Manulife Financial Co. (MFC) Stock

Share on StockTwits

KAMES CAPITAL plc bought a new position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 64,759 shares of the financial services provider’s stock, valued at approximately $1,157,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MFC. Toronto Dominion Bank raised its position in Manulife Financial by 123.4% in the 2nd quarter. Toronto Dominion Bank now owns 11,548,947 shares of the financial services provider’s stock valued at $210,529,000 after purchasing an additional 6,379,595 shares in the last quarter. Addenda Capital Inc. raised its position in Manulife Financial by 101.6% in the 2nd quarter. Addenda Capital Inc. now owns 6,455,126 shares of the financial services provider’s stock valued at $117,819,000 after purchasing an additional 3,253,890 shares in the last quarter. Janus Henderson Group PLC raised its position in Manulife Financial by 629.2% in the 2nd quarter. Janus Henderson Group PLC now owns 3,599,207 shares of the financial services provider’s stock valued at $64,654,000 after purchasing an additional 3,105,627 shares in the last quarter. Letko Brosseau & Associates Inc. raised its position in Manulife Financial by 7.7% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 19,231,896 shares of the financial services provider’s stock valued at $345,325,000 after purchasing an additional 1,381,094 shares in the last quarter. Finally, EdgePoint Investment Group Inc. raised its position in Manulife Financial by 74.4% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 3,129,242 shares of the financial services provider’s stock valued at $56,222,000 after purchasing an additional 1,335,000 shares in the last quarter. 46.12% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have issued reports on MFC shares. ValuEngine lowered Manulife Financial from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 2nd. Zacks Investment Research lowered Manulife Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Evercore ISI started coverage on Manulife Financial in a research report on Tuesday, July 10th. They issued an “in-line” rating on the stock. Finally, Morgan Stanley reduced their price target on Manulife Financial from $27.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. Manulife Financial has a consensus rating of “Buy” and an average target price of $25.67.

MFC opened at $15.73 on Friday. Manulife Financial Co. has a one year low of $15.55 and a one year high of $22.16. The stock has a market capitalization of $35.48 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 0.88 and a beta of 1.29.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, August 8th. The financial services provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. Manulife Financial had a return on equity of 12.69% and a net margin of 4.22%. The business had revenue of $10.59 billion for the quarter. During the same quarter in the previous year, the company posted $0.57 EPS. As a group, sell-side analysts forecast that Manulife Financial Co. will post 2.03 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 19th. Stockholders of record on Tuesday, August 21st were issued a $0.169 dividend. The ex-dividend date was Monday, August 20th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.30%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.13. Manulife Financial’s dividend payout ratio is presently 39.77%.

Manulife Financial Company Profile

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.

Featured Article: Risk Tolerance and Your Investment Decisions

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 Co. (NYSE:MFC) (TSE:MFC).

Institutional Ownership by Quarter for Manulife Financial (NYSE:MFC)

Receive News & Ratings for Manulife Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manulife Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply