Korea Investment CORP Decreases Stake in Manulife Financial Co. (NYSE:MFC)

Korea Investment CORP lessened its position in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 14.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,464,244 shares of the financial services provider's stock after selling 255,972 shares during the quarter. Korea Investment CORP owned 0.08% of Manulife Financial worth $44,960,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Little House Capital LLC boosted its position in Manulife Financial by 1.0% during the fourth quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider's stock valued at $1,037,000 after buying an additional 331 shares during the period. Robertson Stephens Wealth Management LLC raised its holdings in 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 valued at $708,000 after buying an additional 339 shares during the last quarter. Erste Asset Management GmbH boosted its position in 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 valued at $2,133,000 after buying an additional 400 shares during the period. TIAA Trust National Association grew its holdings in Manulife Financial by 5.0% in the 4th quarter. TIAA Trust National Association now owns 8,419 shares of the financial services provider's stock worth $259,000 after acquiring an additional 404 shares during the last quarter. Finally, Addison Advisors LLC increased its position in shares of Manulife Financial by 45.9% in the fourth quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 449 shares during the period. Hedge funds and other institutional investors own 52.56% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Royal Bank of Canada raised their target price on Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. Scotiabank restated an "outperform" rating on shares of Manulife Financial in a research note on Monday, February 3rd. One investment 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's stock. According to MarketBeat, Manulife Financial presently has an average rating of "Buy" and a consensus target price of $45.50.

Manulife Financial Price Performance

NYSE:MFC traded up $0.48 during mid-day trading on Monday, hitting $31.24. 1,033,676 shares of the company's stock were exchanged, compared to its average volume of 2,206,858. The company has a market cap of $53.81 billion, a PE ratio of 15.10, a P/E/G ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a one year low of $22.61 and a one year high of $33.07. The business has a fifty day moving average price of $30.14 and a 200 day moving average price of $30.44.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.07. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The firm had revenue of $9.31 billion for the quarter. On average, equities 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. Stockholders of record on Wednesday, March 5th were paid a $0.3094 dividend. This is a boost from Manulife Financial's previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date was Wednesday, March 5th. Manulife Financial's dividend 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.