Atomi Financial Group Inc. Acquires 836 Shares of Manulife Financial Co. (NYSE:MFC)

by · The Markets Daily

Atomi Financial Group Inc. grew its holdings in shares of Manulife Financial Co. (NYSE:MFC – Free Report) (TSE:MFC) by 4.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,225 shares of the financial services provider’s stock after buying an additional 836 shares during the period. Atomi Financial Group Inc.’s holdings in Manulife Financial were worth $598,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Grove Bank & Trust acquired a new position in Manulife Financial during the 2nd quarter worth approximately $25,000. Addison Advisors LLC grew its position in Manulife Financial by 77.2% in the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 467 shares during the period. HHM Wealth Advisors LLC increased its stake in Manulife Financial by 119.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 600 shares in the last quarter. Bruce G. Allen Investments LLC raised its holdings in Manulife Financial by 73.6% during the first quarter. Bruce G. Allen Investments LLC now owns 1,156 shares of the financial services provider’s stock worth $29,000 after buying an additional 490 shares during the last quarter. Finally, Sachetta LLC lifted its stake in shares of Manulife Financial by 209.5% in the second quarter. Sachetta LLC now owns 1,170 shares of the financial services provider’s stock valued at $31,000 after buying an additional 792 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Wall Street Analysts Forecast Growth

MFC has been the topic of a number of analyst reports. Barclays initiated coverage on shares of Manulife Financial in a report on Thursday, September 5th. They issued an “equal weight” rating on the stock. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Finally, TD Securities increased their target price on shares of Manulife Financial from $38.00 to $40.00 and gave the company a “buy” rating in a report on Friday, June 28th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Manulife Financial has an average rating of “Buy” and an average price target of $35.67.

View Our Latest Stock Analysis on MFC

Manulife Financial Price Performance

NYSE MFC opened at $30.11 on Friday. The stock has a market capitalization of $53.88 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 1.06 and a beta of 1.08. The business’s fifty day moving average is $27.46 and its 200-day moving average is $26.11. Manulife Financial Co. has a one year low of $17.07 and a one year high of $30.25.

Manulife Financial (NYSE:MFC – Get Free Report) (TSE:MFC) last released its earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.27. The firm had revenue of $9.41 billion for the quarter, compared to analysts’ expectations of $8.95 billion. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. During the same period in the previous year, the company earned $0.62 earnings per share. Research analysts expect that Manulife Financial Co. will post 2.72 EPS for the current fiscal year.

Manulife Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, August 21st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.85%. Manulife Financial’s dividend payout ratio is presently 66.86%.

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.

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