Entropy Technologies LP Purchases New Shares in Manulife Financial Co. (NYSE:MFC)

Entropy Technologies LP purchased a new stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 45,764 shares of the financial services provider’s stock, valued at approximately $1,352,000.

Other institutional investors have also made changes to their positions in the company. West Financial Advisors LLC bought a new position in shares of Manulife Financial in the third quarter valued at about $26,000. Grove Bank & Trust bought a new position in shares of Manulife Financial in the second quarter valued at about $25,000. Capital Performance Advisors LLP bought a new position in shares of Manulife Financial in the third quarter valued at about $30,000. Fortitude Family Office LLC bought a new position in shares of Manulife Financial in the third quarter valued at about $31,000. Finally, Addison Advisors LLC raised its holdings in shares of Manulife Financial by 77.2% in the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock valued at $29,000 after buying an additional 467 shares during the last quarter. 52.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Barclays assumed coverage on Manulife Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating for the company. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Manulife Financial has a consensus rating of “Buy” and a consensus target price of $37.50.

Manulife Financial Trading Down 0.2 %

Manulife Financial stock opened at $32.44 on Thursday. The firm has a market capitalization of $57.06 billion, a P/E ratio of 15.67, a PEG ratio of 1.19 and a beta of 1.08. Manulife Financial Co. has a 1 year low of $18.78 and a 1 year high of $32.94. The business has a 50-day moving average of $29.59 and a 200-day moving average of $27.24.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.30. The company had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same period in the previous year, the company earned $0.69 EPS. Research analysts anticipate that Manulife Financial Co. will post 2.74 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.296 per share. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Wednesday, November 20th. Manulife Financial’s payout ratio is presently 57.00%.

Manulife Financial Company Profile

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.