• Wed. Feb 28th, 2024

Cardinal Capital Management Increases Stake in Manulife Financial as Company Shows Strong Growth Potential

Cardinal Capital Management Inc. recently announced a 1.0% increase in its stake in Manulife Financial Co. (MFC) as per its latest filing with the US Securities and Exchange Commission (SEC). With an additional purchase of 53,842 shares, Cardinal Capital now owns 5,470,747 shares worth $97,598,000 at the end of the quarter.

As one of the most significant financial service providers globally, Manulife’s products and services are diversified across Asia, Canada, USA, Global Wealth and Asset Management segments. Recently, the company released their quarterly earnings report on February 15th announcing significant growth which could have influenced Cardinal Capital’s investment decision.

Manulife reported earnings per share (EPS) of $0.65 for the quarter exceeding analysts’ calculated EPS by $0.04 at revenue rates of USD 11.34 billion for Q4. The Asia segment recorded a substantial gross premium value by offering insurance-based wealth accumulation products throughout Asian markets while providing banking services in Canada under its Canadian segment.

With the current increasing hold on MFC equity shares and subsequent realisation from this relationship along with global network impact from power sector players Diversified Energy Company (DEC) which boosted investor confidence among industry insiders towards these stakeholders given that they invariably contribute to sustainable yields and market growth in key areas through strategic investments that cater to new sources of economic growth for all parties involved.

In conclusion, Manulife Financial has managed to deliver strong results despite unprecedented market volatility owing to its robust portfolio diversification strategy across multiple sectors backed by management expertise combined with consistent headway enabled via intelligence-driven process bolstered by cutting-edge technology. As such investors considering financial portfolios would find it prudent to examine Manulife Financial’s structural stability through guided analytics derived from empirical figures showcasing performance over time across various market periods after due diligence screening on a comprehensive basis before making their final selection.

Manulife Financial Corp: Institutional Investors Make Changes to Holdings as Firm Increases Quarterly Dividend


Manulife Financial Corp. (MFC) is a financial services provider with a market cap of $35.45 billion. A number of institutional investors have recently made changes to their holdings in the company, as reported by Bessemer Group Inc., Cantor Fitzgerald L.P., SG Americas Securities LLC, Benjamin Edwards Inc., and Schechter Investment Advisors LLC. Institutional investors and hedge funds own 43.42% of the company’s stock. MFC shares traded down to $19.16 during mid-day trading on Friday with a trading volume of 824,518 shares compared to its average volume of 3,246,280. The firm has a price-to-earnings ratio (PE ratio) of 6.89 times earnings, a P/E/G ratio of 0.82 and a beta of 1.11.

Manulife Financial Corp offers insurance and insurance-based wealth accumulation products in Asia under the Asia segment and offers insurance-based wealth accumulation products and banking services in Canada under the Canada segment. It also operates through the U.S., Global Wealth and Asset Management, and Corporate and Other segments.

On Monday, March 20th, Manulife Financial declared a quarterly dividend which had been paid to investors on that day as well; investors who were recorded on Tuesday February 28th were given $0.274 per share as part of this dividend payout – this amount represents an increase from Manulife Financial’s previous quarterly dividend which was $0.24 per share prior to this change.

In recent news reports by analyzing firms CIBC raised their target price for Manulife Financial from C$23 to C$27 while Desjardins increased theirs from C$26 to C$28; Scotiabank upped their price target on Manulife shares from C$27 to C$34 while StockNews.com began covering the company last month giving it only “hold.” Credit Suisse Group initiated covering Manulife Financial with a “neutral” rating last January. As per Bloomberg’s analysis, the company currently has an average price target of $29.29 and a consensus rating of “Hold.”

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