TD Asset Management Inc. Increases Holdings in Manulife Financial Co. (NYSE:MFC)

TD Asset Management Inc. raised its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,803,859 shares of the financial services provider's stock after acquiring an additional 228,863 shares during the period. Manulife Financial makes up approximately 0.9% of TD Asset Management Inc.'s investment portfolio, making the stock its 21st largest position. TD Asset Management Inc. owned about 2.02% of Manulife Financial worth $1,068,654,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of MFC. Brooklyn Investment Group purchased a new stake in Manulife Financial in the third quarter valued at $26,000. Crews Bank & Trust purchased a new stake in Manulife Financial in the 4th quarter valued at about $26,000. Lee Danner & Bass Inc. acquired a new position in Manulife Financial in the fourth quarter valued at about $31,000. Stonebridge Financial Group LLC purchased a new position in Manulife Financial during the fourth quarter worth about $34,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Manulife Financial during the fourth quarter valued at about $35,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Stock Performance

Shares of NYSE:MFC traded down $0.35 during trading on Friday, hitting $30.77. The company's stock had a trading volume of 2,343,501 shares, compared to its average volume of 2,211,257. Manulife Financial Co. has a fifty-two week low of $22.61 and a fifty-two week high of $33.07. The business has a 50 day moving average price of $30.14 and a two-hundred day moving average price of $30.42. The company has a market capitalization of $53.01 billion, a PE ratio of 14.87, a P/E/G ratio of 1.11 and a beta of 1.05.

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Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.67 by $0.07. The firm had revenue of $9.31 billion during the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. As a group, equities analysts expect that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a $0.3094 dividend. This is a boost from Manulife Financial's previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, March 5th. This represents a $1.24 annualized dividend and a yield of 4.02%. Manulife Financial's dividend payout ratio (DPR) is 58.45%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MFC shares. Royal Bank of Canada increased their price objective on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Scotiabank reaffirmed an "outperform" rating on shares of Manulife Financial in a research note on Monday, February 3rd. One equities 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $45.50.

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.