Invesco Ltd. lessened its holdings in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 12.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,164,230 shares of the financial services provider's stock after selling 431,461 shares during the period. Invesco Ltd. owned approximately 0.18% of Manulife Financial worth $97,174,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Stifel Financial Corp boosted its holdings in shares of Manulife Financial by 0.6% in the third quarter. Stifel Financial Corp now owns 148,683 shares of the financial services provider's stock valued at $4,394,000 after buying an additional 859 shares during the period. Orion Portfolio Solutions LLC increased its holdings in Manulife Financial by 26.3% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 45,975 shares of the financial services provider's stock worth $1,359,000 after purchasing an additional 9,582 shares in the last quarter. Barclays PLC lifted its holdings in shares of Manulife Financial by 60.1% in the third quarter. Barclays PLC now owns 741,764 shares of the financial services provider's stock valued at $21,919,000 after purchasing an additional 278,307 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of 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 buying an additional 616,517 shares during the period. Finally, Invst LLC grew its holdings in shares of Manulife Financial by 24.8% during the third quarter. Invst LLC now owns 19,929 shares of the financial services provider's stock worth $589,000 after buying an additional 3,964 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
MFC has been the subject of a number of recent research reports. Scotiabank reaffirmed an "outperform" rating on shares of Manulife Financial in a research report on Monday, February 3rd. Royal Bank of Canada raised their target price on shares of Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $45.50.
Check Out Our Latest Stock Report on Manulife Financial
Manulife Financial Stock Performance
MFC traded up $0.23 during trading on Tuesday, reaching $28.99. 1,604,916 shares of the stock were exchanged, compared to its average volume of 2,245,901. The stock has a market cap of $49.82 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 1.11 and a beta of 0.89. The stock's 50 day moving average price is $29.81 and its two-hundred day moving average price is $30.45. Manulife Financial Co. has a twelve month low of $22.61 and a twelve month high of $33.07.
Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its earnings results 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. The company 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%. Equities research 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 announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a $0.3094 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This is an increase from Manulife Financial's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 4.27%. Manulife Financial's dividend payout ratio (DPR) is currently 58.45%.
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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