Franklin Resources Inc. Purchases 279,418 Shares of Manulife Financial Co. (NYSE:MFC)

Franklin Resources Inc. lifted its holdings in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 16.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,988,200 shares of the financial services provider's stock after purchasing an additional 279,418 shares during the period. Franklin Resources Inc. owned about 0.11% of Manulife Financial worth $61,426,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Manulife Financial by 1,210.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,161,059 shares of the financial services provider's stock worth $30,922,000 after acquiring an additional 1,072,474 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Manulife Financial by 0.5% during the second quarter. Legal & General Group Plc now owns 14,783,400 shares of the financial services provider's stock worth $393,592,000 after acquiring an additional 75,244 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in shares of Manulife Financial in the third quarter worth $13,318,000. DRW Securities LLC bought a new position in Manulife Financial in the 3rd quarter worth about $1,008,000. Finally, Toronto Dominion Bank boosted its position in shares of Manulife Financial by 3.2% in the second quarter. Toronto Dominion Bank now owns 24,057,503 shares of the financial services provider's stock valued at $640,411,000 after acquiring an additional 750,422 shares during the period. Hedge funds and other institutional investors own 52.56% of the company's stock.

Analyst Ratings Changes

Separately, Barclays started coverage on Manulife Financial in a research report on Thursday, September 5th. They issued an "equal weight" rating on the stock. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $37.50.

Manulife Financial Stock Performance

Shares of MFC traded down $0.31 on Tuesday, hitting $30.73. 955,149 shares of the stock traded hands, compared to its average volume of 2,535,824. The business has a 50 day simple moving average of $31.22 and a 200 day simple moving average of $28.36. Manulife Financial Co. has a one year low of $20.78 and a one year high of $33.07. The company has a market capitalization of $53.84 billion, a PE ratio of 15.00, a P/E/G ratio of 1.16 and a beta of 1.09.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.70 by $0.30. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The firm had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. On average, equities analysts expect that Manulife Financial Co. will post 2.72 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 $0.296 dividend. This is a boost from Manulife Financial's previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, November 20th. This represents a $1.18 dividend on an annualized basis and a yield of 3.85%. Manulife Financial's dividend payout ratio is presently 57.00%.

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.