O Shaughnessy Asset Management LLC Has $34.02 Million Stock Holdings in Manulife Financial Co. (NYSE:MFC)

O Shaughnessy Asset Management LLC decreased its position in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,108,469 shares of the financial services provider's stock after selling 50,219 shares during the quarter. O Shaughnessy Asset Management LLC owned about 0.06% of Manulife Financial worth $34,022,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Crews Bank & Trust acquired a new position in shares of Manulife Financial in the 4th quarter valued at $26,000. Brooklyn Investment Group acquired a new position in Manulife Financial in the third quarter valued at about $26,000. Lee Danner & Bass Inc. bought a new stake in shares of Manulife Financial in the fourth quarter worth about $31,000. Stonebridge Financial Group LLC bought a new position in shares of Manulife Financial during the 4th quarter valued at about $34,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Manulife Financial in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 52.56% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on MFC. Royal Bank of Canada lifted their price target on shares of Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a research note on Friday, February 21st. Scotiabank reaffirmed an "outperform" rating on shares of Manulife Financial in a research note on Monday, February 3rd. One investment 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's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $45.50.

Remove Ads

Manulife Financial Trading Up 1.9 %

Shares of NYSE MFC traded up $0.59 during midday trading on Wednesday, reaching $32.35. The company's stock had a trading volume of 2,214,894 shares, compared to its average volume of 2,263,970. The stock has a 50 day simple moving average of $30.17 and a 200-day simple moving average of $30.49. The stock has a market capitalization of $55.73 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a fifty-two week low of $22.61 and a fifty-two week high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (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 firm had revenue of $9.31 billion for the quarter. As a group, equities analysts anticipate that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.3094 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.83%. This is an increase from Manulife Financial's previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, March 5th. Manulife Financial's dividend payout ratio (DPR) is currently 58.45%.

Manulife Financial 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.