Short Interest in Manulife Financial Co. (NYSE:MFC) Decreases By 58.1%

Manulife Financial Co. (NYSE:MFC - Get Free Report) TSE: MFC was the recipient of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 6,190,000 shares, a decrease of 58.1% from the March 15th total of 14,780,000 shares. Based on an average daily volume of 2,470,000 shares, the short-interest ratio is presently 2.5 days. Currently, 0.4% of the company's stock are sold short.

Manulife Financial Stock Up 0.0 %

Shares of NYSE:MFC traded up $0.01 during trading on Friday, hitting $28.60. The stock had a trading volume of 1,914,254 shares, compared to its average volume of 2,244,642. Manulife Financial has a 12-month low of $22.81 and a 12-month high of $33.07. The stock has a market capitalization of $49.14 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 1.11 and a beta of 0.89. The stock has a 50-day simple moving average of $29.75 and a two-hundred day simple moving average of $30.43.

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

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.3094 per share. This is a boost from Manulife Financial's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.33%. Manulife Financial's dividend payout ratio (DPR) is presently 58.45%.

Institutional Investors Weigh In On Manulife Financial

A number of institutional investors have recently modified their holdings of the business. Crews Bank & Trust acquired a new position in Manulife Financial during the fourth quarter worth $26,000. Lee Danner & Bass Inc. purchased a new position in Manulife Financial during the fourth quarter worth about $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Manulife Financial during the 4th quarter valued at approximately $34,000. Golden State Wealth Management LLC acquired a new position in shares of Manulife Financial in the 4th quarter valued at $35,000. Finally, Lazard Asset Management LLC acquired a new position in Manulife Financial in the fourth quarter valued at about $35,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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