Oppenheimer & Co. Inc. Boosts Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Oppenheimer & Co. Inc. grew its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 5.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,724 shares of the financial services provider’s stock after purchasing an additional 1,219 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Manulife Financial were worth $413,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Enterprise Trust & Investment Co bought a new position in shares of Manulife Financial during the second quarter valued at approximately $25,000. Cullen Frost Bankers Inc. lifted its holdings in Manulife Financial by 72.7% during the second quarter. Cullen Frost Bankers Inc. now owns 1,900 shares of the financial services provider’s stock worth $35,000 after buying an additional 800 shares during the period. Rehmann Capital Advisory Group lifted its holdings in Manulife Financial by 206.3% during the first quarter. Rehmann Capital Advisory Group now owns 2,205 shares of the financial services provider’s stock worth $37,000 after buying an additional 1,485 shares during the period. Manchester Financial Inc. purchased a new stake in Manulife Financial during the second quarter worth $41,000. Finally, Bremer Bank National Association bought a new stake in Manulife Financial during the 1st quarter valued at $42,000. Institutional investors and hedge funds own 45.92% of the company’s stock.

Shares of MFC stock traded up $0.12 during mid-day trading on Wednesday, hitting $17.97. 440,832 shares of the stock traded hands, compared to its average volume of 1,747,011. Manulife Financial Co. has a 52-week low of $13.33 and a 52-week high of $18.87. The stock has a market cap of $34.96 billion, a P/E ratio of 8.52, a P/E/G ratio of 0.80 and a beta of 1.42. The stock’s fifty day moving average is $17.06 and its two-hundred day moving average is $17.52.



Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The firm had revenue of $16.60 billion during the quarter. Manulife Financial had a return on equity of 13.27% and a net margin of 9.36%. During the same quarter in the prior year, the firm posted $0.70 earnings per share. As a group, sell-side analysts expect that Manulife Financial Co. will post 2.21 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Tuesday, August 20th will be paid a $0.189 dividend. This represents a $0.76 annualized dividend and a yield of 4.21%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Monday, August 19th. Manulife Financial’s dividend payout ratio (DPR) is 36.02%.

A number of research analysts have recently issued reports on the company. Zacks Investment Research upgraded Manulife Financial from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Tuesday, July 23rd. ValuEngine cut Manulife Financial from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $25.67.

Manulife Financial 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; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.

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

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