Haven Private LLC acquired a new position in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,213 shares of the financial services provider's stock, valued at approximately $314,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. National Bank of Canada FI raised its holdings in Manulife Financial by 13.5% during the third quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider's stock worth $829,374,000 after purchasing an additional 3,329,892 shares in the last quarter. Geode Capital Management LLC raised its holdings in Manulife Financial by 8.1% during the third quarter. Geode Capital Management LLC now owns 8,273,260 shares of the financial services provider's stock worth $247,473,000 after purchasing an additional 616,517 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Manulife Financial by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,186,930 shares of the financial services provider's stock worth $153,455,000 after purchasing an additional 158,216 shares in the last quarter. Alberta Investment Management Corp raised its holdings in Manulife Financial by 5.1% during the fourth quarter. Alberta Investment Management Corp now owns 4,896,049 shares of the financial services provider's stock worth $150,333,000 after purchasing an additional 236,808 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Manulife Financial by 1.8% during the third quarter. The Manufacturers Life Insurance Company now owns 2,035,663 shares of the financial services provider's stock worth $60,202,000 after purchasing an additional 36,838 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company's stock.
Manulife Financial Trading Down 0.5 %
Shares of Manulife Financial stock traded down $0.14 during trading on Friday, reaching $29.23. The company's stock had a trading volume of 2,730,015 shares, compared to its average volume of 1,982,260. The company has a 50-day moving average price of $30.25 and a two-hundred day moving average price of $30.12. The firm has a market cap of $50.37 billion, a PE ratio of 14.12, a P/E/G ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a fifty-two week low of $22.61 and a fifty-two week 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 analysts' consensus estimates of $0.67 by $0.07. The business had revenue of $9.31 billion for the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. On average, analysts predict that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.
Manulife Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.3094 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 4.23%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, March 5th. Manulife Financial's dividend payout ratio (DPR) is 58.45%.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on MFC shares. Royal Bank of Canada raised their price objective 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. Scotiabank reaffirmed an "outperform" rating on shares of Manulife Financial in a report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $45.50.
Check Out Our Latest Stock Report on MFC
About Manulife Financial
(
Free Report)
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.
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