Heathbridge Capital Management Ltd. Sells 6,800 Shares of Manulife Financial Co. (NYSE:MFC)

Heathbridge Capital Management Ltd. decreased its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 643,550 shares of the financial services provider’s stock after selling 6,800 shares during the quarter. Manulife Financial comprises about 7.2% of Heathbridge Capital Management Ltd.’s investment portfolio, making the stock its 5th biggest position. Heathbridge Capital Management Ltd.’s holdings in Manulife Financial were worth $19,019,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. West Financial Advisors LLC acquired a new stake in shares of Manulife Financial during the third quarter worth $26,000. Grove Bank & Trust acquired a new stake in shares of Manulife Financial during the second quarter worth $25,000. Addison Advisors LLC boosted its holdings in shares of Manulife Financial by 77.2% during the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 467 shares during the last quarter. HHM Wealth Advisors LLC boosted its holdings in shares of Manulife Financial by 119.0% during the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 600 shares during the last quarter. Finally, Sachetta LLC boosted its holdings in shares of Manulife Financial by 209.5% during the second quarter. Sachetta LLC now owns 1,170 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 792 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Trading Down 0.4 %

Shares of MFC opened at $30.56 on Friday. The firm has a market capitalization of $54.69 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 1.09 and a beta of 1.08. The stock’s fifty day simple moving average is $28.15 and its 200 day simple moving average is $26.34. Manulife Financial Co. has a twelve month low of $17.07 and a twelve month 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. The business had revenue of $9.41 billion for the quarter, compared to analyst estimates of $8.95 billion. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. During the same period last year, the company posted $0.62 EPS. Sell-side analysts predict that Manulife Financial Co. will post 2.73 earnings per share for the current year.

Manulife Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.80%. The ex-dividend date was Wednesday, August 21st. Manulife Financial’s dividend payout ratio (DPR) is presently 66.86%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. TD Securities raised their price objective on Manulife Financial from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Barclays assumed coverage on Manulife Financial in a report on Thursday, September 5th. They set an “equal weight” rating on the stock. 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 stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $35.67.

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.