Intech Investment Management LLC Purchases 34,838 Shares of Manulife Financial Co. (NYSE:MFC)

Intech Investment Management LLC grew its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 37.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 128,710 shares of the financial services provider's stock after buying an additional 34,838 shares during the period. Intech Investment Management LLC's holdings in Manulife Financial were worth $3,808,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of MFC. SG Americas Securities LLC acquired a new stake in Manulife Financial during the first quarter worth approximately $142,000. Advisors Asset Management Inc. boosted its position in shares of Manulife Financial by 10.0% in the 1st quarter. Advisors Asset Management Inc. now owns 50,390 shares of the financial services provider's stock worth $1,259,000 after buying an additional 4,588 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of Manulife Financial in the 1st quarter worth about $209,000. Bayesian Capital Management LP purchased a new stake in shares of Manulife Financial in the 1st quarter worth about $1,105,000. Finally, Dynasty Wealth Management LLC purchased a new stake in shares of Manulife Financial in the 1st quarter worth about $946,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Stock Down 0.6 %

MFC traded down $0.21 during trading on Friday, reaching $32.47. The stock had a trading volume of 1,574,545 shares, compared to its average volume of 2,219,076. The firm has a market capitalization of $56.88 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 1.19 and a beta of 1.08. Manulife Financial Co. has a 1-year low of $19.13 and a 1-year high of $33.07. The stock has a 50 day moving average of $30.38 and a two-hundred day moving average of $27.72.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The company had revenue of $10.69 billion during the quarter, compared to the consensus estimate of $9.73 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. On average, research analysts forecast that Manulife Financial Co. will post 2.74 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.296 per share. This is an increase from Manulife Financial's previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a yield of 3.65%. The ex-dividend date is Wednesday, November 20th. Manulife Financial's payout ratio is 57.00%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MFC shares. Dbs Bank upgraded shares of Manulife Financial to a "strong-buy" rating in a research note on Thursday, August 8th. Barclays initiated coverage on Manulife Financial in a research report on Thursday, September 5th. They issued an "equal weight" rating for the company. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $37.50.

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.