Bridgewater Associates LP Has $41.55 Million Stake in Manulife Financial Co. (NYSE:MFC)

Bridgewater Associates LP boosted its position in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 169.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,404,481 shares of the financial services provider's stock after buying an additional 883,624 shares during the quarter. Bridgewater Associates LP owned 0.08% of Manulife Financial worth $41,554,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MFC. Freedom Investment Management Inc. acquired a new stake in shares of Manulife Financial during the third quarter worth approximately $601,000. BNP Paribas Financial Markets increased its position in shares of Manulife Financial by 16.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 50,381 shares of the financial services provider's stock worth $1,489,000 after purchasing an additional 6,938 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Manulife Financial during the third quarter worth about $26,000. FMR LLC grew its stake in Manulife Financial by 1.2% in the third quarter. FMR LLC now owns 396,027 shares of the financial services provider's stock worth $11,704,000 after purchasing an additional 4,586 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Manulife Financial by 1.8% in the third quarter. The Manufacturers Life Insurance Company now owns 2,035,663 shares of the financial services provider's stock valued at $60,202,000 after buying an additional 36,838 shares during the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Stock Performance

Shares of Manulife Financial stock traded down $0.11 during midday trading on Wednesday, reaching $31.74. 708,525 shares of the company's stock traded hands, compared to its average volume of 2,534,842. Manulife Financial Co. has a 52 week low of $19.20 and a 52 week high of $33.07. The company's 50 day simple moving average is $30.53 and its 200 day simple moving average is $27.81. The company has a market cap of $55.60 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 1.17 and a beta of 1.08.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $9.73 billion. During the same period in the previous year, the company posted $0.69 earnings per share. As a group, equities research analysts predict that Manulife Financial Co. will post 2.72 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be given a dividend of $0.296 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This is an increase from Manulife Financial's previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a yield of 3.73%. Manulife Financial's dividend payout ratio (DPR) is 57.00%.

Analysts Set New Price Targets

Several brokerages have weighed in on MFC. Barclays initiated coverage on Manulife Financial in a research report on Thursday, September 5th. They issued an "equal weight" rating on the stock. Dbs Bank upgraded Manulife Financial to a "strong-buy" rating in a report on Thursday, August 8th. One 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average 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.