Entropy Technologies LP Invests $1.35 Million in Manulife Financial Co. (NYSE:MFC)

Entropy Technologies LP acquired a new stake in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 45,764 shares of the financial services provider's stock, valued at approximately $1,352,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Americana Partners LLC boosted its stake in Manulife Financial by 0.5% during the 3rd quarter. Americana Partners LLC now owns 69,967 shares of the financial services provider's stock worth $2,068,000 after acquiring an additional 364 shares during the last quarter. Indiana Trust & Investment Management CO boosted its position in shares of Manulife Financial by 22.2% during the second quarter. Indiana Trust & Investment Management CO now owns 2,540 shares of the financial services provider's stock worth $68,000 after purchasing an additional 462 shares in the last quarter. Addison Advisors LLC grew its holdings in shares of Manulife Financial by 77.2% in the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider's stock valued at $29,000 after buying an additional 467 shares during the period. LRI Investments LLC increased its position in shares of Manulife Financial by 8.6% in the 2nd quarter. LRI Investments LLC now owns 6,819 shares of the financial services provider's stock valued at $182,000 after buying an additional 542 shares in the last quarter. Finally, Arkadios Wealth Advisors raised its stake in Manulife Financial by 1.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 41,841 shares of the financial services provider's stock worth $1,236,000 after buying an additional 547 shares during the period. 52.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on MFC. Barclays initiated coverage on Manulife Financial in a research report on Thursday, September 5th. They set an "equal weight" rating on the stock. Dbs Bank upgraded shares of 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 stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $37.50.

Manulife Financial Price Performance

Shares of MFC traded up $0.43 during mid-day trading on Thursday, hitting $32.87. 1,702,286 shares of the company's stock were exchanged, compared to its average volume of 2,535,608. Manulife Financial Co. has a 52 week low of $18.80 and a 52 week high of $33.07. The company has a market cap of $57.82 billion, a PE ratio of 15.92, a P/E/G ratio of 1.19 and a beta of 1.08. The company has a 50-day simple moving average of $29.69 and a 200 day simple moving average of $27.27.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.70 by $0.30. The firm had revenue of $10.69 billion for the quarter, compared to analysts' expectations of $9.73 billion. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. During the same period in the previous year, the firm posted $0.69 EPS. On average, analysts anticipate that Manulife Financial Co. will post 2.74 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.296 per share. This is a positive change from Manulife Financial's previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, November 20th. This represents a $1.18 annualized dividend and a dividend yield of 3.60%. Manulife Financial's payout ratio is 57.00%.

About Manulife Financial

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.