Barclays PLC Purchases 278,307 Shares of Manulife Financial Co. (NYSE:MFC)

Barclays PLC lifted its position in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 60.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 741,764 shares of the financial services provider's stock after purchasing an additional 278,307 shares during the period. Barclays PLC's holdings in Manulife Financial were worth $21,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new stake in Manulife Financial during the third quarter valued at about $7,007,000. Orion Portfolio Solutions LLC raised its stake in Manulife Financial by 26.3% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 45,975 shares of the financial services provider's stock valued at $1,359,000 after purchasing an additional 9,582 shares during the period. National Bank of Canada FI lifted its holdings in Manulife Financial by 13.5% in the 3rd quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider's stock worth $829,374,000 after purchasing an additional 3,329,892 shares in the last quarter. Wellington Management Group LLP boosted its stake in Manulife Financial by 131.2% in the 3rd quarter. Wellington Management Group LLP now owns 644,602 shares of the financial services provider's stock worth $19,072,000 after purchasing an additional 365,761 shares during the period. Finally, Stifel Financial Corp grew its holdings in Manulife Financial by 0.6% during the 3rd quarter. Stifel Financial Corp now owns 148,683 shares of the financial services provider's stock valued at $4,394,000 after buying an additional 859 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors.

Manulife Financial Stock Performance

Shares of MFC traded up $0.11 during mid-day trading on Friday, hitting $30.93. 5,946,048 shares of the stock were exchanged, compared to its average volume of 2,538,545. The firm has a 50-day moving average of $31.19 and a two-hundred day moving average of $28.32. Manulife Financial Co. has a 52-week low of $20.78 and a 52-week high of $33.07. The company has a market cap of $54.19 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 1.16 and a beta of 1.09.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced 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 net margin of 9.79% and a return on equity of 16.11%. The firm had revenue of $10.69 billion during the quarter, compared to the consensus estimate of $9.73 billion. During the same quarter last year, the firm earned $0.69 EPS. On average, sell-side analysts predict that Manulife Financial Co. will post 2.72 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.296 per share. This represents a $1.18 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Wednesday, November 20th. This is a positive change from Manulife Financial's previous quarterly dividend of $0.29. Manulife Financial's dividend payout ratio is presently 57.00%.

Analysts Set New Price Targets

Separately, Barclays initiated coverage on shares of Manulife Financial in a report on Thursday, September 5th. They issued an "equal weight" rating on the stock. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $37.50.

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.