The Manufacturers Life Insurance Company Has $230.07 Million Holdings in eBay Inc. (NASDAQ:EBAY)

The Manufacturers Life Insurance Company decreased its holdings in eBay Inc. (NASDAQ:EBAY) by 7.5% during the third quarter, Holdings Channel.com reports. The firm owned 3,533,582 shares of the e-commerce company’s stock after selling 287,325 shares during the period. The Manufacturers Life Insurance Company’s holdings in eBay were worth $230,072,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Private Advisor Group LLC lifted its position in eBay by 90.7% in the 3rd quarter. Private Advisor Group LLC now owns 45,500 shares of the e-commerce company’s stock worth $2,963,000 after buying an additional 21,636 shares in the last quarter. Cetera Investment Advisers boosted its position in eBay by 325.4% during the first quarter. Cetera Investment Advisers now owns 79,151 shares of the e-commerce company’s stock valued at $4,178,000 after purchasing an additional 60,544 shares during the last quarter. PGGM Investments grew its stake in eBay by 88.0% in the second quarter. PGGM Investments now owns 61,115 shares of the e-commerce company’s stock valued at $3,283,000 after purchasing an additional 28,604 shares in the last quarter. Prospera Financial Services Inc increased its position in eBay by 794.2% in the 3rd quarter. Prospera Financial Services Inc now owns 70,616 shares of the e-commerce company’s stock worth $4,598,000 after purchasing an additional 62,719 shares during the last quarter. Finally, Trustmark National Bank Trust Department purchased a new stake in shares of eBay during the 3rd quarter worth about $1,307,000. 87.48% of the stock is owned by hedge funds and other institutional investors.

eBay Price Performance

Shares of eBay stock opened at $64.99 on Tuesday. The firm has a market cap of $31.13 billion, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 1.66 and a beta of 1.34. The firm’s 50-day simple moving average is $63.57 and its 200-day simple moving average is $58.08. eBay Inc. has a twelve month low of $40.16 and a twelve month high of $67.80. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25.

eBay Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.27 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.08 annualized dividend and a dividend yield of 1.66%. eBay’s dividend payout ratio is currently 27.14%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Mizuho increased their price objective on eBay from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Stifel Nicolaus raised their price target on shares of eBay from $56.00 to $64.00 and gave the company a “hold” rating in a report on Monday, October 28th. Benchmark reiterated a “buy” rating and issued a $65.00 price objective on shares of eBay in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft cut their target price on eBay from $70.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, StockNews.com downgraded eBay from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $62.87.

Insider Transactions at eBay

In other news, CFO Stephen J. Priest sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $63.91, for a total transaction of $1,597,750.00. Following the completion of the sale, the chief financial officer now owns 70,332 shares of the company’s stock, valued at approximately $4,494,918.12. This trade represents a 26.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jamie Iannone sold 5,625 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $59.91, for a total value of $336,993.75. Following the completion of the transaction, the chief executive officer now directly owns 548,042 shares in the company, valued at $32,833,196.22. The trade was a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,016 shares of company stock valued at $3,015,417. Corporate insiders own 0.38% of the company’s stock.

eBay Company Profile

eBay Inc, together with its subsidiaries, operates marketplace platforms that connect buyers and sellers in the United States, the United Kingdom, China, Germany, and internationally. The company’s marketplace platform includes its online marketplace at ebay.com, off-platform businesses, and the eBay suite of mobile apps.