Healthcare of Ontario Pension Plan Trust Fund Buys Shares of 589,200 Manulife Financial Co. (NYSE:MFC)

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 589,200 shares of the financial services provider's stock, valued at approximately $17,412,000.

A number of other large investors have also modified their holdings of MFC. Grove Bank & Trust purchased a new position in shares of Manulife Financial in the 2nd quarter valued at about $25,000. West Financial Advisors LLC purchased a new stake in shares of Manulife Financial in the third quarter valued at approximately $26,000. Brooklyn Investment Group acquired a new position in shares of Manulife Financial during the 3rd quarter worth approximately $26,000. Addison Advisors LLC lifted its position in shares of Manulife Financial by 77.2% during 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 in the last quarter. Finally, HHM Wealth Advisors LLC grew its stake in Manulife Financial by 119.0% in the 2nd quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds own 52.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays initiated coverage on shares of Manulife Financial in a 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 research report on Thursday, August 8th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Manulife Financial presently has a consensus rating of "Buy" and an average target price of $37.50.

Manulife Financial Stock Up 0.9 %

Shares of Manulife Financial stock traded up $0.27 during trading hours on Friday, reaching $32.17. 790,252 shares of the company's stock were exchanged, compared to its average volume of 2,532,668. The business has a fifty day moving average of $30.73 and a two-hundred day moving average of $27.91. The company has a market capitalization of $56.35 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 1.17 and a beta of 1.08. Manulife Financial Co. has a 1 year low of $19.23 and a 1 year high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.30. The firm had revenue of $10.69 billion for the quarter, compared to analyst estimates 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 business posted $0.69 earnings per share. As a group, research analysts predict that Manulife Financial Co. will post 2.72 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be issued a $0.296 dividend. This represents a $1.18 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Wednesday, November 20th. This is a boost from Manulife Financial's previous quarterly dividend of $0.29. Manulife Financial's dividend payout ratio (DPR) is currently 57.00%.

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.