Manulife Financial Co. (NYSE:MFC) Stock Position Decreased by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its stake in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,979,983 shares of the financial services provider's stock after selling 31,619 shares during the quarter. JPMorgan Chase & Co. owned about 0.52% of Manulife Financial worth $275,775,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. TD Asset Management Inc. grew its position in shares of Manulife Financial by 0.7% during the fourth quarter. TD Asset Management Inc. now owns 34,803,859 shares of the financial services provider's stock worth $1,068,654,000 after acquiring an additional 228,863 shares during the last quarter. National Bank of Canada FI grew its position in Manulife Financial by 13.5% in the 3rd quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider's stock worth $829,374,000 after purchasing an additional 3,329,892 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Manulife Financial by 1.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,334,413 shares of the financial services provider's stock worth $347,757,000 after purchasing an additional 190,738 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of 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 period. Finally, Alberta Investment Management Corp raised its holdings in shares of Manulife Financial by 5.1% during the fourth quarter. Alberta Investment Management Corp now owns 4,896,049 shares of the financial services provider's stock valued at $150,333,000 after buying an additional 236,808 shares during the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

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Manulife Financial Trading Up 2.0 %

NYSE:MFC traded up $0.64 during midday trading on Tuesday, hitting $31.79. 1,969,183 shares of the stock were exchanged, compared to its average volume of 2,208,238. The company has a market capitalization of $54.75 billion, a price-to-earnings ratio of 15.36, 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 50-day moving average price of $30.17 and a two-hundred day moving average price of $30.49.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.07. The business 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%. Sell-side analysts forecast that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.3094 per share. This is a positive change 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 dividend yield of 3.89%. Manulife Financial's dividend payout ratio (DPR) is 58.45%.

Wall Street Analysts Forecast Growth

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