Entropy Technologies LP Makes New Investment in Manulife Financial Co. (NYSE:MFC)

Entropy Technologies LP purchased a new position in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 45,764 shares of the financial services provider's stock, valued at approximately $1,352,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Manulife Financial by 1.0% in the first quarter. Vanguard Group Inc. now owns 72,289,251 shares of the financial services provider's stock valued at $1,806,508,000 after buying an additional 727,764 shares during the period. National Bank of Canada FI boosted its stake in Manulife Financial by 14.8% during the first quarter. National Bank of Canada FI now owns 28,803,968 shares of the financial services provider's stock worth $749,435,000 after acquiring an additional 3,720,693 shares in the last quarter. Toronto Dominion Bank increased its stake in Manulife Financial by 3.2% in the second quarter. Toronto Dominion Bank now owns 24,057,503 shares of the financial services provider's stock valued at $640,411,000 after purchasing an additional 750,422 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Manulife Financial by 34.3% during the second quarter. 1832 Asset Management L.P. now owns 19,723,609 shares of the financial services provider's stock valued at $525,042,000 after purchasing an additional 5,036,716 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Manulife Financial by 0.5% during the 2nd quarter. Legal & General Group Plc now owns 14,783,400 shares of the financial services provider's stock worth $393,592,000 after purchasing an additional 75,244 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Dbs Bank raised Manulife Financial to a "strong-buy" rating in a research report on Thursday, August 8th. Barclays started coverage on Manulife Financial in a report on Thursday, September 5th. They set 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 given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $37.50.

Manulife Financial Stock Performance

MFC traded up $0.43 during midday trading on Thursday, reaching $32.87. 1,702,286 shares of the company were exchanged, compared to its average volume of 2,535,608. The company has a market cap of $57.82 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 1.19 and a beta of 1.08. Manulife Financial Co. has a one year low of $18.80 and a one year high of $33.07. The company's fifty day moving average price is $29.69 and its 200 day moving average price is $27.27.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The business had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same period in the prior year, the firm posted $0.69 EPS. As a group, sell-side analysts anticipate that Manulife Financial Co. will post 2.74 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be issued a $0.296 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.18 annualized dividend and a dividend yield of 3.60%. This is an increase from Manulife Financial's previous quarterly dividend of $0.29. Manulife Financial's dividend payout ratio is currently 57.00%.

Manulife Financial Company 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.