Capstone Asset Management Co. Purchases 4,775 Shares of Manulife Financial Corp (NYSE:MFC)

Capstone Asset Management Co. boosted its stake in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 493,315 shares of the financial services provider’s stock after buying an additional 4,775 shares during the period. Capstone Asset Management Co.’s holdings in Manulife Financial Corp were worth $9,255,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Manulife Financial Corp by 4.7% in the first quarter. Vanguard Group Inc. now owns 42,156,733 shares of the financial services provider’s stock valued at $747,861,000 after buying an additional 1,901,343 shares during the period. FMR LLC raised its position in Manulife Financial Corp by 14.8% in the first quarter. FMR LLC now owns 41,809,722 shares of the financial services provider’s stock worth $741,656,000 after buying an additional 5,378,760 shares during the last quarter. Causeway Capital Management LLC raised its position in Manulife Financial Corp by 196.6% in the first quarter. Causeway Capital Management LLC now owns 15,761,517 shares of the financial services provider’s stock worth $279,609,000 after buying an additional 10,447,098 shares during the last quarter. Wellington Management Group LLP raised its position in Manulife Financial Corp by 51.9% in the first quarter. Wellington Management Group LLP now owns 14,767,058 shares of the financial services provider’s stock worth $261,385,000 after buying an additional 5,046,441 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Manulife Financial Corp by 2.0% in the first quarter. Wells Fargo & Company MN now owns 13,377,882 shares of the financial services provider’s stock worth $237,324,000 after buying an additional 263,922 shares during the last quarter. 48.57% of the stock is currently owned by institutional investors.

Manulife Financial Corp (NYSE:MFC) traded down 0.26% on Monday, hitting $19.34. The stock had a trading volume of 2,588,551 shares. Manulife Financial Corp has a 12-month low of $12.92 and a 12-month high of $19.52. The company has a market cap of $38.23 billion, a price-to-earnings ratio of 16.12 and a beta of 1.28. The company’s 50 day moving average price is $17.69 and its 200-day moving average price is $18.04.

The business also recently declared a quarterly dividend, which was paid on Monday, June 19th. Stockholders of record on Tuesday, May 16th were given a dividend of $0.1501 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Friday, May 12th. Manulife Financial Corp’s payout ratio is 50.85%.

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MFC has been the topic of a number of recent research reports. National Bank Financial reissued a “sector perform overweight” rating on shares of Manulife Financial Corp in a report on Wednesday, May 3rd. ValuEngine lowered Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub raised Manulife Financial Corp from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Zacks Investment Research raised Manulife Financial Corp from a “sell” rating to a “hold” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Manulife Financial Corp currently has a consensus rating of “Buy” and an average target price of $21.80.

Manulife Financial Corp Company Profile

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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Institutional Ownership by Quarter for Manulife Financial Corp (NYSE:MFC)

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