Harvest Fund Management Co. Ltd Raises Position in Manulife Financial Co. (NYSE:MFC)

Harvest Fund Management Co. Ltd grew its position in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 454.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 153,766 shares of the financial services provider's stock after purchasing an additional 126,030 shares during the period. Harvest Fund Management Co. Ltd's holdings in Manulife Financial were worth $4,724,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in Manulife Financial during the third quarter valued at about $26,000. Crews Bank & Trust bought a new stake in shares of Manulife Financial in the 4th quarter valued at about $26,000. Stonebridge Financial Group LLC purchased a new stake in Manulife Financial during the 4th quarter valued at about $34,000. Golden State Wealth Management LLC bought a new position in Manulife Financial during the 4th quarter worth approximately $35,000. Finally, CKW Financial Group purchased a new position in Manulife Financial in the 4th quarter worth approximately $37,000. 52.56% of the stock is currently owned by institutional investors.

Manulife Financial Stock Down 0.3 %

Shares of MFC traded down $0.09 during mid-day trading on Friday, hitting $30.45. 2,165,880 shares of the company's stock traded hands, compared to its average volume of 1,952,637. The business's 50-day moving average price is $30.05 and its 200-day moving average price is $30.29. Manulife Financial Co. has a 1 year low of $22.61 and a 1 year high of $33.07. The firm has a market capitalization of $52.45 billion, a P/E ratio of 14.71, a PEG ratio of 1.11 and a beta of 1.05.

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

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.3094 dividend. This is an increase from Manulife Financial's previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend was Wednesday, March 5th. Manulife Financial's dividend payout ratio is presently 58.45%.

Analyst Ratings Changes

A number of analysts have recently weighed in on MFC shares. Scotiabank reissued an "outperform" rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada raised their price target on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price 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.