Manulife Financial Co. (NYSE:MFC) is Intact Investment Management Inc.'s 6th Largest Position

Intact Investment Management Inc. lessened its stake in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 30.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,157,355 shares of the financial services provider's stock after selling 945,590 shares during the period. Manulife Financial accounts for approximately 2.3% of Intact Investment Management Inc.'s portfolio, making the stock its 6th biggest position. Intact Investment Management Inc. owned about 0.13% of Manulife Financial worth $66,267,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MFC. Entropy Technologies LP purchased a new position in shares of Manulife Financial during the 3rd quarter worth $1,352,000. Prime Capital Investment Advisors LLC acquired a new stake in shares of Manulife Financial during the 3rd quarter worth about $203,000. Oppenheimer & Co. Inc. increased its position in shares of Manulife Financial by 4.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 56,661 shares of the financial services provider's stock worth $1,674,000 after purchasing an additional 2,612 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in shares of Manulife Financial during the 3rd quarter worth about $373,000. Finally, Huntington National Bank increased its position in shares of Manulife Financial by 4.0% during the 3rd quarter. Huntington National Bank now owns 23,904 shares of the financial services provider's stock worth $706,000 after purchasing an additional 922 shares during the last quarter. Hedge funds and other institutional investors own 52.56% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MFC shares. Scotiabank reissued 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 investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $45.50.

Manulife Financial Stock Down 0.2 %

NYSE MFC traded down $0.08 during trading on Tuesday, hitting $30.02. The stock had a trading volume of 1,209,180 shares, compared to its average volume of 1,968,005. The company has a market capitalization of $51.70 billion, a PE ratio of 14.50, a PEG ratio of 1.11 and a beta of 1.05. The firm has a 50 day moving average price of $30.06 and a 200 day moving average price of $30.23. Manulife Financial Co. has a twelve month low of $22.61 and a twelve month high of $33.07.

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

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a $0.3094 dividend. This is an increase from Manulife Financial's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Wednesday, March 5th. Manulife Financial's payout ratio 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.