HBK Sorce Advisory LLC Boosts Stake in Manulife Financial Co. (MFC)

Share on StockTwits

HBK Sorce Advisory LLC grew its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 53.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,000 shares of the financial services provider’s stock after acquiring an additional 7,306 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Manulife Financial were worth $375,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC lifted its holdings in shares of Manulife Financial by 21.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 26,234 shares of the financial services provider’s stock valued at $471,000 after acquiring an additional 4,695 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Manulife Financial by 26.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 116,527 shares of the financial services provider’s stock valued at $2,093,000 after acquiring an additional 24,622 shares during the last quarter. Smith Asset Management Group LP lifted its holdings in shares of Manulife Financial by 14.4% in the 2nd quarter. Smith Asset Management Group LP now owns 49,720 shares of the financial services provider’s stock valued at $893,000 after acquiring an additional 6,240 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Manulife Financial by 21.4% in the 2nd quarter. Sei Investments Co. now owns 546,380 shares of the financial services provider’s stock valued at $9,819,000 after acquiring an additional 96,195 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC lifted its holdings in shares of Manulife Financial by 11.8% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 58,198 shares of the financial services provider’s stock valued at $1,046,000 after acquiring an additional 6,148 shares during the last quarter. 46.40% of the stock is owned by institutional investors.

Shares of NYSE MFC opened at $14.73 on Friday. The stock has a market capitalization of $29.23 billion, a price-to-earnings ratio of 8.61, a PEG ratio of 0.71 and a beta of 1.29. Manulife Financial Co. has a 1 year low of $14.59 and a 1 year high of $22.16.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, November 7th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.25. The business had revenue of $6.15 billion during the quarter. Manulife Financial had a net margin of 5.49% and a return on equity of 13.70%. During the same period in the previous year, the business earned $0.53 EPS. On average, equities analysts forecast that Manulife Financial Co. will post 2.08 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Tuesday, November 20th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, November 19th. This represents a $0.76 annualized dividend and a yield of 5.16%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.17. Manulife Financial’s dividend payout ratio (DPR) is presently 44.44%.

Several brokerages have issued reports on MFC. Scotiabank reissued an “average” rating and issued a $28.00 price objective on shares of Manulife Financial in a research note on Tuesday, November 13th. TheStreet raised shares of Manulife Financial from a “c+” rating to a “b-” rating in a research note on Friday, November 30th. Zacks Investment Research raised shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Friday, October 5th. Canaccord Genuity reissued a “buy” rating on shares of Manulife Financial in a research note on Friday, November 9th. Finally, TD Securities reissued a “buy” rating on shares of Manulife Financial in a research note on Thursday, November 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $24.33.

TRADEMARK VIOLATION NOTICE: This report was posted by Week Herald and is owned by of Week Herald. If you are reading this report on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The original version of this report can be viewed at https://weekherald.com/2018/12/16/hbk-sorce-advisory-llc-boosts-stake-in-manulife-financial-co-mfc.html.

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.

Read More: What is the float in trading stocks?

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