Madison Investment Advisors LLC Takes $1.71 Million Position in Manulife Financial Co. (NYSE:MFC)

Madison Investment Advisors LLC acquired a new stake in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 55,798 shares of the financial services provider's stock, valued at approximately $1,714,000.

Other hedge funds have also recently added to or reduced their stakes in the company. National Bank of Canada FI increased its holdings in shares of Manulife Financial by 13.5% during the third quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider's stock worth $829,374,000 after buying an additional 3,329,892 shares in the last quarter. Bridgewater Associates LP increased its holdings in Manulife Financial by 169.6% in the 3rd quarter. Bridgewater Associates LP now owns 1,404,481 shares of the financial services provider's stock worth $41,554,000 after purchasing an additional 883,624 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Manulife Financial by 1,067.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 686,418 shares of the financial services provider's stock worth $21,080,000 after purchasing an additional 627,614 shares in the last quarter. Geode Capital Management LLC raised its position in Manulife Financial by 8.1% in the third quarter. Geode Capital Management LLC now owns 8,273,260 shares of the financial services provider's stock valued at $247,473,000 after purchasing an additional 616,517 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Manulife Financial during the third quarter valued at about $17,412,000. Institutional investors and hedge funds own 52.56% of the company's stock.

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Analysts Set New Price Targets

Several research firms have recently issued reports on MFC. Scotiabank reaffirmed an "outperform" rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada upped their price target 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 investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Manulife Financial has a consensus rating of "Buy" and a consensus target price of $45.50.

Manulife Financial Stock Performance

Shares of MFC traded down $0.28 during mid-day trading on Wednesday, reaching $31.13. 950,678 shares of the company were exchanged, compared to its average volume of 1,910,689. The business has a 50 day simple moving average of $30.12 and a two-hundred day simple moving average of $30.37. Manulife Financial Co. has a 52 week low of $22.61 and a 52 week high of $33.07. The stock has a market capitalization of $53.62 billion, a PE ratio of 15.04, a PEG ratio of 1.11 and a beta of 1.05.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.07. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The firm had revenue of $9.31 billion for the quarter. On average, analysts predict that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.3094 per share. This is an increase from Manulife Financial's previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date was Wednesday, March 5th. Manulife Financial's dividend payout ratio (DPR) is presently 58.45%.

Manulife Financial Company 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.