Candriam S.C.A. Has $20.26 Million Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Candriam S.C.A. boosted its holdings in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 41.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 659,686 shares of the financial services provider's stock after acquiring an additional 194,177 shares during the quarter. Candriam S.C.A.'s holdings in Manulife Financial were worth $20,256,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MFC. Farther Finance Advisors LLC raised its position in Manulife Financial by 40.8% during the third quarter. Farther Finance Advisors LLC now owns 3,328 shares of the financial services provider's stock valued at $98,000 after acquiring an additional 964 shares in the last quarter. Van ECK Associates Corp raised its position in Manulife Financial by 29.3% during the third quarter. Van ECK Associates Corp now owns 343,736 shares of the financial services provider's stock valued at $10,325,000 after acquiring an additional 77,864 shares in the last quarter. LGT Financial Advisors LLC bought a new position in shares of Manulife Financial in the third quarter valued at approximately $180,000. Capital Performance Advisors LLP bought a new position in shares of Manulife Financial in the third quarter valued at approximately $30,000. Finally, Leavell Investment Management Inc. bought a new position in shares of Manulife Financial in the third quarter valued at approximately $201,000. Institutional investors own 52.56% of the company's stock.

Remove Ads

Manulife Financial Price Performance

Shares of Manulife Financial stock traded down $0.14 during midday trading on Friday, hitting $29.23. The company had a trading volume of 2,730,015 shares, compared to its average volume of 1,982,260. The business's 50 day simple moving average is $30.25 and its two-hundred day simple moving average is $30.12. The stock has a market cap of $50.37 billion, a PE ratio of 14.12, a P/E/G ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a 1-year low of $22.61 and a 1-year high of $33.07.

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

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.3094 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a yield of 4.23%. This is an increase from Manulife Financial's previous quarterly dividend of $0.30. Manulife Financial's payout ratio is currently 58.45%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MFC. Royal Bank of Canada lifted their price target on shares of Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Scotiabank reissued an "outperform" rating on shares of Manulife Financial in a research report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average 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.