Manulife Financial Co. (NYSE:MFC) Shares Bought by PCJ Investment Counsel Ltd.

PCJ Investment Counsel Ltd. boosted its position in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 9.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 247,211 shares of the financial services provider's stock after acquiring an additional 21,420 shares during the quarter. Manulife Financial accounts for approximately 2.3% of PCJ Investment Counsel Ltd.'s portfolio, making the stock its 11th largest holding. PCJ Investment Counsel Ltd.'s holdings in Manulife Financial were worth $7,305,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Manulife Financial in the first quarter valued at approximately $142,000. Avantax Advisory Services Inc. acquired a new stake in shares of Manulife Financial in the 1st quarter valued at about $244,000. UniSuper Management Pty Ltd raised its holdings in Manulife Financial by 89.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 25,600 shares of the financial services provider's stock valued at $640,000 after buying an additional 12,100 shares during the last quarter. Bessemer Group Inc. increased its holdings in Manulife Financial by 2,913.7% during the first quarter. Bessemer Group Inc. now owns 86,615 shares of the financial services provider's stock worth $2,163,000 after buying an additional 83,741 shares during the last quarter. Finally, Vident Advisory LLC raised its holdings in shares of Manulife Financial by 15.8% during the first quarter. Vident Advisory LLC now owns 145,373 shares of the financial services provider's stock valued at $3,634,000 after acquiring an additional 19,863 shares in the last quarter. Institutional investors own 52.56% of the company's stock.

Manulife Financial Price Performance

Shares of NYSE:MFC traded down $0.16 during trading on Wednesday, reaching $32.13. The company had a trading volume of 866,662 shares, compared to its average volume of 2,537,975. The firm has a market capitalization of $56.29 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 1.19 and a beta of 1.08. The stock's fifty day moving average price is $30.11 and its 200 day moving average price is $27.55. Manulife Financial Co. has a fifty-two week low of $18.91 and a fifty-two week high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its earnings results 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. The company had revenue of $10.69 billion for the quarter, compared to the consensus estimate of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same quarter last year, the business posted $0.69 EPS. On average, equities analysts anticipate that Manulife Financial Co. will post 2.74 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be paid a $0.296 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.69%. This is an increase from Manulife Financial's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial's payout ratio is currently 56.04%.

Analyst Ratings Changes

A number of research firms have recently weighed in on MFC. Barclays assumed coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They issued an "equal weight" rating on the stock. Dbs Bank raised shares of Manulife Financial to a "strong-buy" rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $37.50.

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.