Barclays PLC Purchases 38,092 Shares of Manulife Financial Co. (NYSE:MFC)

Barclays PLC raised its stake in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 779,856 shares of the financial services provider's stock after buying an additional 38,092 shares during the period. Barclays PLC's holdings in Manulife Financial were worth $23,950,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MFC. Crews Bank & Trust purchased a new stake in Manulife Financial during the fourth quarter valued at $26,000. Lee Danner & Bass Inc. purchased a new stake in shares of Manulife Financial during the 4th quarter valued at about $31,000. Stonebridge Financial Group LLC bought a new position in shares of Manulife Financial in the 4th quarter worth approximately $34,000. Golden State Wealth Management LLC purchased a new position in shares of Manulife Financial in the fourth quarter worth approximately $35,000. Finally, CKW Financial Group bought a new stake in Manulife Financial during the fourth quarter valued at approximately $37,000. 52.56% of the stock is owned by institutional investors.

Manulife Financial Stock Performance

Shares of MFC traded up $0.53 during mid-day trading on Wednesday, reaching $29.76. The stock had a trading volume of 1,841,950 shares, compared to its average volume of 2,239,095. The firm has a market cap of $51.14 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 1.11 and a beta of 0.89. Manulife Financial Co. has a 12 month low of $22.96 and a 12 month high of $33.07. The business has a fifty day moving average of $29.70 and a 200 day moving average of $30.41.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.07. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The business had revenue of $9.31 billion during the quarter. On average, research analysts forecast that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.3094 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.24 annualized dividend and a dividend yield of 4.16%. This is a boost from Manulife Financial's previous quarterly dividend of $0.30. Manulife Financial's dividend payout ratio (DPR) is presently 58.45%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MFC shares. Royal Bank of Canada lifted their price target on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. Scotiabank reiterated an "outperform" rating on shares of Manulife Financial in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $45.50.

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.