Galibier Capital Management Ltd. Increases Stake in Manulife Financial Co. (NYSE:MFC)

Galibier Capital Management Ltd. grew its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 895,402 shares of the financial services provider’s stock after purchasing an additional 11,126 shares during the quarter. Manulife Financial comprises approximately 6.0% of Galibier Capital Management Ltd.’s investment portfolio, making the stock its 7th largest position. Galibier Capital Management Ltd. owned approximately 0.05% of Manulife Financial worth $26,492,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Grove Bank & Trust acquired a new position in Manulife Financial in the second quarter valued at $25,000. West Financial Advisors LLC bought a new stake in Manulife Financial in the third quarter worth approximately $26,000. Addison Advisors LLC boosted its holdings 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 worth $29,000 after buying an additional 467 shares in the last quarter. HHM Wealth Advisors LLC grew 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 worth $29,000 after buying an additional 600 shares during the period. Finally, Sachetta LLC increased its stake in shares of Manulife Financial by 209.5% in the 2nd quarter. Sachetta LLC now owns 1,170 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 792 shares in the last quarter. 52.56% of the stock is owned by institutional investors.

Manulife Financial Price Performance

Shares of NYSE:MFC traded down $0.17 during midday trading on Wednesday, hitting $29.90. 51,102 shares of the company’s stock were exchanged, compared to its average volume of 2,551,553. Manulife Financial Co. has a 12 month low of $17.31 and a 12 month high of $30.86. The company has a market cap of $53.51 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 1.10 and a beta of 1.08. The stock has a 50 day moving average price of $28.84 and a 200-day moving average price of $26.70.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.64 by $0.27. The firm had revenue of $9.41 billion during the quarter, compared to the consensus estimate 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 in the prior year, the business posted $0.62 earnings per share. On average, analysts anticipate that Manulife Financial Co. will post 2.74 EPS for the current fiscal year.

Manulife Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 21st were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date was Wednesday, August 21st. Manulife Financial’s payout ratio is currently 66.86%.

Analyst Ratings Changes

A number of equities research analysts have commented on MFC shares. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Barclays assumed coverage on Manulife Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating for the company. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Manulife Financial has an average rating of “Buy” and a consensus price target of $35.67.

About Manulife Financial

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.