Guardian Capital LP Has $278.36 Million Holdings in Manulife Financial Co. (MFC)
Guardian Capital LP trimmed its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,759,111 shares of the financial services provider’s stock after selling 217,163 shares during the period. Manulife Financial comprises about 4.1% of Guardian Capital LP’s investment portfolio, making the stock its 5th largest position. Guardian Capital LP owned about 0.70% of Manulife Financial worth $278,358,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in MFC. Ropes Wealth Advisors LLC acquired a new position in shares of Manulife Financial during the 2nd quarter valued at about $103,000. D.A. Davidson & CO. increased its stake in shares of Manulife Financial by 17.5% during the 2nd quarter. D.A. Davidson & CO. now owns 6,768 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 1,010 shares during the last quarter. Citizens Financial Group Inc. RI increased its stake in shares of Manulife Financial by 3,803.6% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 6,441 shares of the financial services provider’s stock valued at $131,000 after acquiring an additional 6,276 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Manulife Financial by 25.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,284 shares of the financial services provider’s stock valued at $193,000 after acquiring an additional 2,103 shares during the last quarter. Finally, Investment Centers of America Inc. acquired a new position in shares of Manulife Financial during the 3rd quarter valued at about $216,000. Institutional investors own 46.55% of the company’s stock.
Manulife Financial Co. (NYSE:MFC) traded down $0.11 during midday trading on Tuesday, hitting $20.78. 1,399,200 shares of the stock were exchanged, compared to its average volume of 2,361,573. Manulife Financial Co. has a one year low of $16.62 and a one year high of $21.69. The firm has a market cap of $41,338.07, a P/E ratio of 12.07, a P/E/G ratio of 1.26 and a beta of 1.33.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Tuesday, November 21st will be paid a dividend of $0.1606 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Monday, November 20th. Manulife Financial’s dividend payout ratio is currently 45.71%.
A number of research firms have recently commented on MFC. ValuEngine downgraded shares of Manulife Financial from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 18th. Zacks Investment Research downgraded shares of Manulife Financial from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. Finally, Morgan Stanley upped their price objective on shares of Manulife Financial from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, October 5th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $25.00.
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About Manulife Financial
Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.
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