PCJ Investment Counsel Ltd. Has $4.47 Million Stock Position in Manulife Financial Co. (NYSE:MFC)

PCJ Investment Counsel Ltd. decreased its holdings in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 41.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 145,681 shares of the financial services provider's stock after selling 101,530 shares during the quarter. Manulife Financial comprises approximately 1.5% of PCJ Investment Counsel Ltd.'s holdings, making the stock its 14th largest position. PCJ Investment Counsel Ltd.'s holdings in Manulife Financial were worth $4,470,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Baron Wealth Management LLC lifted its position in shares of Manulife Financial by 2.3% in the 3rd quarter. Baron Wealth Management LLC now owns 14,400 shares of the financial services provider's stock worth $426,000 after acquiring an additional 330 shares during the period. Little House Capital LLC lifted its position in shares of Manulife Financial by 1.0% in the 4th quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider's stock worth $1,037,000 after acquiring an additional 331 shares during the period. Robertson Stephens Wealth Management LLC lifted its position in shares of Manulife Financial by 1.5% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 23,068 shares of the financial services provider's stock worth $708,000 after acquiring an additional 339 shares during the period. Addison Advisors LLC lifted its position in shares of Manulife Financial by 45.9% in the 4th quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider's stock worth $44,000 after acquiring an additional 449 shares during the period. Finally, M&T Bank Corp lifted its position in shares of Manulife Financial by 1.2% in the 4th quarter. M&T Bank Corp now owns 40,894 shares of the financial services provider's stock worth $1,256,000 after acquiring an additional 489 shares during the period. Institutional investors own 52.56% of the company's stock.

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Analyst Upgrades and Downgrades

MFC has been the subject of a number of research reports. Scotiabank reiterated an "outperform" rating on shares of Manulife Financial in a research report on Monday, February 3rd. Royal Bank of Canada raised their price objective on Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Manulife Financial has a consensus rating of "Buy" and a consensus price target of $45.50.

Manulife Financial Price Performance

Shares of Manulife Financial stock traded up $0.67 during midday trading on Wednesday, hitting $29.27. 1,628,863 shares of the company were exchanged, compared to its average volume of 1,978,152. The firm has a market cap of $50.43 billion, a P/E ratio of 14.14, a PEG ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a 52 week low of $22.61 and a 52 week high of $33.07. The firm has a 50 day simple moving average of $30.17 and a 200-day simple moving average of $30.18.

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

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.3094 per share. This represents a $1.24 dividend on an annualized basis and a yield of 4.23%. This is a boost from Manulife Financial's previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, March 5th. Manulife Financial's dividend payout ratio (DPR) is currently 58.45%.

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.