Heathbridge Capital Management Ltd. Sells 48,700 Shares of Manulife Financial Co. (NYSE:MFC)

Heathbridge Capital Management Ltd. trimmed its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 7.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 650,350 shares of the financial services provider’s stock after selling 48,700 shares during the quarter. Manulife Financial comprises 7.3% of Heathbridge Capital Management Ltd.’s portfolio, making the stock its 4th largest holding. Heathbridge Capital Management Ltd.’s holdings in Manulife Financial were worth $17,310,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Grove Bank & Trust acquired a new stake in shares of Manulife Financial in the 2nd quarter worth approximately $25,000. Fortis Group Advisors LLC lifted its position in Manulife Financial by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 1,210 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 605 shares during the period. Bruce G. Allen Investments LLC boosted its stake in Manulife Financial by 73.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 1,156 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 490 shares in the last quarter. Addison Advisors LLC boosted its stake in 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 in the last quarter. Finally, 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 period. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MFC shares. TD Securities raised their target price on Manulife Financial from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Barclays assumed coverage on shares of Manulife Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating on the stock. Finally, Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.67.

Manulife Financial Trading Up 0.7 %

NYSE MFC opened at $27.65 on Thursday. Manulife Financial Co. has a 1 year low of $17.07 and a 1 year high of $27.82. The stock’s 50-day moving average price is $26.40 and its two-hundred day moving average price is $25.39. The company has a market cap of $48.94 billion, a PE ratio of 16.08, a PEG ratio of 0.99 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.64 by $0.27. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. The business had revenue of $9.41 billion during the quarter, compared to the consensus estimate of $8.95 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. Research analysts forecast that Manulife Financial Co. will post 2.72 EPS for the current fiscal year.

Manulife Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, August 21st will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.20%. The ex-dividend date is Wednesday, August 21st. Manulife Financial’s dividend payout ratio is currently 67.44%.

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.