Fortitude Family Office LLC Makes New $31,000 Investment in Manulife Financial Co. (NYSE:MFC)

Fortitude Family Office LLC bought a new stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,035 shares of the financial services provider’s stock, valued at approximately $31,000.

Other large investors have also recently modified their holdings of the company. West Financial Advisors LLC bought a new position in shares of Manulife Financial during the 3rd quarter valued at approximately $26,000. Grove Bank & Trust bought a new position in shares of Manulife Financial during the 2nd quarter valued at approximately $25,000. Addison Advisors LLC increased its position in shares of Manulife Financial by 77.2% during 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 last quarter. HHM Wealth Advisors LLC increased its position in shares of 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 during the last quarter. Finally, Sachetta LLC increased its position in shares of Manulife Financial by 209.5% during the 2nd quarter. Sachetta LLC now owns 1,170 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 792 shares during the last quarter. Institutional investors own 52.56% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MFC shares. Barclays started coverage on Manulife Financial in a research report on Thursday, September 5th. They set an “equal weight” rating on the stock. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Manulife Financial currently has an average rating of “Buy” and a consensus target price of $35.67.

Manulife Financial Stock Down 0.3 %

Shares of Manulife Financial stock opened at $29.97 on Thursday. The stock’s fifty day moving average is $28.92 and its two-hundred day moving average is $26.72. The company has a market capitalization of $53.63 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 1.10 and a beta of 1.08. Manulife Financial Co. has a 52 week low of $17.31 and a 52 week high of $30.86.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.27. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. The business had revenue of $9.41 billion during the quarter, compared to analysts’ expectations of $8.95 billion. During the same period in the prior year, the business earned $0.62 EPS. As a group, research analysts anticipate that Manulife Financial Co. will post 2.74 earnings per share for the current year.

Manulife Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.87%. The ex-dividend date was Wednesday, August 21st. Manulife Financial’s dividend payout ratio is 66.86%.

Manulife Financial 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.