JPMorgan Chase & Co. Has $266.29 Million Position in Manulife Financial Co. (NYSE:MFC)

JPMorgan Chase & Co. cut its stake in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 9.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,011,602 shares of the financial services provider's stock after selling 991,605 shares during the period. JPMorgan Chase & Co. owned approximately 0.52% of Manulife Financial worth $266,293,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MFC. West Financial Advisors LLC bought a new stake in Manulife Financial in the third quarter worth about $26,000. Brooklyn Investment Group bought a new stake in shares of Manulife Financial in the 3rd quarter worth approximately $26,000. Addison Advisors LLC lifted its stake in Manulife Financial by 77.2% during the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 467 shares during the last quarter. HHM Wealth Advisors LLC boosted its holdings in Manulife Financial by 119.0% during the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider's stock worth $29,000 after buying an additional 600 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in Manulife Financial during the third quarter worth approximately $30,000. Institutional investors and hedge funds own 52.56% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Barclays started coverage on Manulife Financial in a research report on Thursday, September 5th. They set an "equal weight" rating for the company. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $37.50.

Manulife Financial Trading Up 0.3 %

Shares of MFC traded up $0.08 during midday trading on Tuesday, hitting $30.71. The stock had a trading volume of 976,165 shares, compared to its average volume of 2,497,597. The business has a 50-day simple moving average of $31.27 and a two-hundred day simple moving average of $28.73. The firm has a market cap of $53.47 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09. Manulife Financial Co. has a fifty-two week low of $20.78 and a fifty-two week high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.30. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The firm had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same quarter last year, the business posted $0.69 EPS. On average, analysts expect that Manulife Financial Co. will post 2.72 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, November 20th were given a dividend of $0.296 per share. This represents a $1.18 annualized dividend and a yield of 3.86%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.29. The ex-dividend date was Wednesday, November 20th. Manulife Financial's payout ratio is presently 57.00%.

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.