CenterBook Partners LP Buys New Position in Manulife Financial Co. (NYSE:MFC)

CenterBook Partners LP acquired a new stake in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,382 shares of the financial services provider's stock, valued at approximately $472,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Little House Capital LLC grew its position in Manulife Financial by 1.0% in the fourth quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider's stock valued at $1,037,000 after acquiring an additional 331 shares during the last quarter. Robertson Stephens Wealth Management LLC boosted its stake in shares of Manulife Financial by 1.5% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 23,068 shares of the financial services provider's stock valued at $708,000 after purchasing an additional 339 shares in the last quarter. Erste Asset Management GmbH grew its holdings in shares of Manulife Financial by 0.6% during the 4th quarter. Erste Asset Management GmbH now owns 69,300 shares of the financial services provider's stock valued at $2,133,000 after purchasing an additional 400 shares during the last quarter. TIAA Trust National Association increased its position in Manulife Financial by 5.0% during the 4th quarter. TIAA Trust National Association now owns 8,419 shares of the financial services provider's stock worth $259,000 after purchasing an additional 404 shares in the last quarter. Finally, Addison Advisors LLC increased its position in Manulife Financial by 45.9% during the 4th quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider's stock worth $44,000 after purchasing an additional 449 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Scotiabank reaffirmed an "outperform" rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada boosted their price objective on Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $45.50.

Manulife Financial Stock Up 0.8 %

Shares of MFC stock traded up $0.23 during trading hours on Tuesday, hitting $28.99. 1,604,916 shares of the company's stock traded hands, compared to its average volume of 2,245,901. The stock has a market cap of $49.82 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.11 and a beta of 0.89. The stock's 50 day simple moving average is $29.81 and its 200 day simple moving average is $30.45. Manulife Financial Co. has a 12 month low of $22.61 and a 12 month high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate 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 for the quarter. As a group, equities research analysts expect that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company 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 is a boost from Manulife Financial's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 4.27%. Manulife Financial's dividend payout ratio is 58.45%.

Manulife Financial 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.