Charles Schwab Investment Management Inc. Increases Stock Position in Manulife Financial Co. (NYSE:MFC)

Charles Schwab Investment Management Inc. grew its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 3.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,186,930 shares of the financial services provider's stock after purchasing an additional 158,216 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.29% of Manulife Financial worth $153,455,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Grove Bank & Trust bought a new position in shares of Manulife Financial in the second quarter worth about $25,000. West Financial Advisors LLC acquired a new stake in Manulife Financial in the third quarter valued at approximately $26,000. Addison Advisors LLC grew its stake in shares of Manulife Financial by 77.2% during the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider's stock worth $29,000 after buying an additional 467 shares during the last quarter. HHM Wealth Advisors LLC increased its holdings in shares of Manulife Financial by 119.0% during the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider's stock worth $29,000 after buying an additional 600 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Manulife Financial in the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 52.56% of the company's stock.

Manulife Financial Price Performance

Shares of Manulife Financial stock traded down $0.51 during trading on Monday, reaching $31.96. 1,631,212 shares of the company traded hands, compared to its average volume of 2,542,467. The firm has a market capitalization of $55.99 billion, a PE ratio of 15.69, a P/E/G ratio of 1.18 and a beta of 1.08. The company has a 50 day moving average price of $30.38 and a 200-day moving average price of $27.72. Manulife Financial Co. has a 1-year low of $19.20 and a 1-year high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.70 by $0.30. The company had revenue of $10.69 billion during the quarter, compared to the consensus estimate of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same period last year, the business posted $0.69 EPS. Equities research analysts expect that Manulife Financial Co. will post 2.74 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be given a $0.296 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.18 annualized dividend and a yield of 3.70%. This is an increase from Manulife Financial's previous quarterly dividend of $0.29. Manulife Financial's dividend payout ratio (DPR) is presently 57.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Dbs Bank upgraded Manulife Financial to a "strong-buy" rating in a research report on Thursday, August 8th. Barclays initiated coverage on shares of Manulife Financial in a research note on Thursday, September 5th. They issued an "equal weight" rating on the stock. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $37.50.

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.