Corient Private Wealth LLC Buys 12,766 Shares of Manulife Financial Co. (NYSE:MFC)

Corient Private Wealth LLC grew its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 13.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 111,298 shares of the financial services provider's stock after purchasing an additional 12,766 shares during the period. Corient Private Wealth LLC's holdings in Manulife Financial were worth $3,418,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. National Bank of Canada FI lifted its holdings in Manulife Financial by 13.5% during the 3rd quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider's stock valued at $829,374,000 after purchasing an additional 3,329,892 shares during the last quarter. Bridgewater Associates LP boosted its holdings in shares of Manulife Financial by 169.6% in the 3rd quarter. Bridgewater Associates LP now owns 1,404,481 shares of the financial services provider's stock valued at $41,554,000 after purchasing an additional 883,624 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Manulife Financial by 1,067.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 686,418 shares of the financial services provider's stock valued at $21,080,000 after acquiring an additional 627,614 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Manulife Financial by 8.1% during the third quarter. Geode Capital Management LLC now owns 8,273,260 shares of the financial services provider's stock worth $247,473,000 after buying an additional 616,517 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Manulife Financial during the third quarter valued at about $17,412,000. 52.56% of the stock is owned by institutional investors and hedge funds.

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Manulife Financial Trading Down 0.9 %

Shares of MFC stock traded down $0.28 during trading hours on Wednesday, reaching $31.13. The stock had a trading volume of 950,678 shares, compared to its average volume of 1,910,689. The firm has a market capitalization of $53.62 billion, a PE ratio of 15.04, a PEG ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a 12 month low of $22.61 and a 12 month high of $33.07. The stock's fifty day simple moving average is $30.12 and its 200 day simple moving average is $30.37.

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

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a dividend of $0.3094 per share. The ex-dividend date was Wednesday, March 5th. This is a boost from Manulife Financial's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 3.98%. Manulife Financial's dividend payout ratio is currently 58.45%.

Wall Street Analysts Forecast Growth

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