Jones Financial Companies Lllp Increases Stake in Manulife Financial Co. (NYSE:MFC)

Jones Financial Companies Lllp lifted its holdings in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 67.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 453,230 shares of the financial services provider's stock after acquiring an additional 181,884 shares during the quarter. Jones Financial Companies Lllp's holdings in Manulife Financial were worth $13,919,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. National Bank of Canada FI increased its position in shares of Manulife Financial by 13.5% during the 3rd quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider's stock valued at $829,374,000 after purchasing an additional 3,329,892 shares during the last quarter. Bridgewater Associates LP raised its position in Manulife Financial by 169.6% in the third quarter. Bridgewater Associates LP now owns 1,404,481 shares of the financial services provider's stock worth $41,554,000 after acquiring an additional 883,624 shares during the period. Assenagon Asset Management S.A. boosted its stake in Manulife Financial by 1,067.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 686,418 shares of the financial services provider's stock valued at $21,080,000 after acquiring an additional 627,614 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Manulife Financial by 8.1% during the 3rd quarter. Geode Capital Management LLC now owns 8,273,260 shares of the financial services provider's stock valued at $247,473,000 after acquiring an additional 616,517 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Manulife Financial during the 3rd quarter worth approximately $17,412,000. 52.56% of the stock is currently owned by institutional investors.

Manulife Financial Stock Performance

Manulife Financial stock traded up $0.82 during midday trading on Wednesday, reaching $30.01. 4,158,912 shares of the stock were exchanged, compared to its average volume of 2,008,038. Manulife Financial Co. has a 52 week low of $22.61 and a 52 week high of $33.07. The firm has a market cap of $51.71 billion, a PE ratio of 14.50, a PEG ratio of 1.11 and a beta of 1.05. The company's fifty day moving average is $30.32 and its 200-day moving average is $30.08.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.07. The firm 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, sell-side analysts anticipate that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.3094 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date is Wednesday, March 5th. This is an increase from Manulife Financial's previous quarterly dividend of $0.30. Manulife Financial's dividend payout ratio (DPR) is 58.45%.

Analyst Upgrades and Downgrades

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

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.