Hillsdale Investment Management Inc. Has $78.11 Million Holdings in Manulife Financial Co. (NYSE:MFC)

Hillsdale Investment Management Inc. raised its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 216.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,545,393 shares of the financial services provider's stock after acquiring an additional 1,739,853 shares during the period. Manulife Financial comprises about 3.9% of Hillsdale Investment Management Inc.'s investment portfolio, making the stock its 2nd largest holding. Hillsdale Investment Management Inc. owned about 0.15% of Manulife Financial worth $78,110,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Little House Capital LLC lifted its holdings in Manulife Financial by 1.0% during the 4th quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider's stock valued at $1,037,000 after purchasing an additional 331 shares during the last quarter. Robertson Stephens Wealth Management LLC lifted its stake in shares of Manulife Financial by 1.5% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 23,068 shares of the financial services provider's stock worth $708,000 after buying an additional 339 shares during the last quarter. Erste Asset Management GmbH lifted its stake in shares of Manulife Financial by 0.6% during the 4th quarter. Erste Asset Management GmbH now owns 69,300 shares of the financial services provider's stock worth $2,133,000 after buying an additional 400 shares during the last quarter. Addison Advisors LLC boosted its holdings in shares of Manulife Financial by 45.9% during the 4th quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider's stock worth $44,000 after buying an additional 449 shares during the period. Finally, M&T Bank Corp grew its stake in Manulife Financial by 1.2% in the 4th quarter. M&T Bank Corp now owns 40,894 shares of the financial services provider's stock valued at $1,256,000 after buying an additional 489 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

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

Manulife Financial Trading Down 0.9 %

Shares of MFC traded down $0.28 during midday trading on Wednesday, reaching $31.13. The stock had a trading volume of 1,023,304 shares, compared to its average volume of 1,907,945. Manulife Financial Co. has a 12-month low of $22.61 and a 12-month high of $33.07. The company's 50-day moving average is $30.12 and its 200 day moving average is $30.37. The company has a market capitalization of $53.62 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05.

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 EPS for the quarter, topping the consensus estimate 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 during the quarter. Research analysts forecast that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.3094 per share. The ex-dividend date was Wednesday, March 5th. This is a positive change from Manulife Financial's previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 3.98%. Manulife Financial's payout ratio is currently 58.45%.

About Manulife Financial

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.