Manulife Financial Co. (NYSE:MFC) Stake Raised by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 28.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,650,598 shares of the financial services provider's stock after purchasing an additional 2,377,338 shares during the quarter. Geode Capital Management LLC owned 0.62% of Manulife Financial worth $333,291,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of MFC. FMR LLC lifted its position in shares of Manulife Financial by 1.2% in the third quarter. FMR LLC now owns 396,027 shares of the financial services provider's stock valued at $11,704,000 after acquiring an additional 4,586 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Manulife Financial by 16.0% in the third quarter. BNP Paribas Financial Markets now owns 50,381 shares of the financial services provider's stock valued at $1,489,000 after purchasing an additional 6,938 shares during the period. Verition Fund Management LLC lifted its position in Manulife Financial by 3.8% during the third quarter. Verition Fund Management LLC now owns 33,765 shares of the financial services provider's stock worth $998,000 after buying an additional 1,230 shares during the period. Quantinno Capital Management LP boosted its stake in Manulife Financial by 6.5% in the 3rd quarter. Quantinno Capital Management LP now owns 150,813 shares of the financial services provider's stock worth $4,457,000 after buying an additional 9,170 shares during the last quarter. Finally, Stifel Financial Corp grew its holdings in Manulife Financial by 0.6% in the 3rd 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. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

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Manulife Financial Price Performance

Shares of NYSE:MFC traded down $2.01 during trading on Thursday, reaching $27.13. 1,452,051 shares of the company's stock traded hands, compared to its average volume of 2,407,470. The company has a 50 day moving average of $29.92 and a 200-day moving average of $30.48. Manulife Financial Co. has a 12 month low of $22.61 and a 12 month high of $33.07. The stock has a market capitalization of $46.73 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 1.11 and a beta of 0.89.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.07. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The business had revenue of $9.31 billion for the quarter. 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.3094 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.24 annualized dividend and a yield of 4.56%. This is an increase from Manulife Financial's previous quarterly dividend of $0.30. Manulife Financial's payout ratio is presently 58.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MFC shares. Royal Bank of Canada boosted their target price on shares of Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a report on Friday, February 21st. Scotiabank reiterated an "outperform" rating on shares of Manulife Financial in a report on Monday, February 3rd. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $45.50.

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.