Franklin Resources Inc. Buys 160,226 Shares of Manulife Financial Co. (NYSE:MFC)

Franklin Resources Inc. grew its holdings in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 8.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,148,426 shares of the financial services provider's stock after acquiring an additional 160,226 shares during the period. Franklin Resources Inc. owned about 0.12% of Manulife Financial worth $65,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of MFC. Crews Bank & Trust bought a new position in shares of Manulife Financial in the fourth quarter worth about $26,000. Lee Danner & Bass Inc. purchased a new position in Manulife Financial during the fourth quarter valued at approximately $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Manulife Financial in the fourth quarter worth $34,000. Golden State Wealth Management LLC bought a new stake in shares of Manulife Financial during the 4th quarter valued at $35,000. Finally, CKW Financial Group purchased a new position in shares of Manulife Financial during the 4th quarter valued at $37,000. 52.56% of the stock is owned by institutional investors.

Manulife Financial Price Performance

Shares of Manulife Financial stock traded up $0.49 during trading on Tuesday, reaching $27.90. 769,403 shares of the stock traded hands, compared to its average volume of 2,312,827. The company has a market capitalization of $48.05 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 1.11 and a beta of 0.89. Manulife Financial Co. has a 52-week low of $22.61 and a 52-week high of $33.07. The business has a fifty day simple moving average of $30.10 and a two-hundred day simple moving average of $30.52.

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

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.3094 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.24 annualized dividend and a yield of 4.44%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.30. Manulife Financial's dividend payout ratio (DPR) is 58.45%.

Wall Street Analysts Forecast Growth

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

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.