Manulife Financial (NYSE:MFC) Sees Large Volume Increase - Here's What Happened

Manulife Financial Co. (NYSE:MFC - Get Free Report) TSE: MFC saw unusually-strong trading volume on Monday . Approximately 5,764,791 shares traded hands during mid-day trading, an increase of 169% from the previous session's volume of 2,141,681 shares.The stock last traded at $30.38 and had previously closed at $31.16.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Scotiabank reissued an "outperform" rating on shares of Manulife Financial in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $45.50.

Manulife Financial Stock Performance

The stock has a market capitalization of $51.54 billion, a price-to-earnings ratio of 14.45, a P/E/G ratio of 1.11 and a beta of 1.05. The company has a 50-day moving average of $30.32 and a 200-day moving average of $30.08.

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. The company had revenue of $9.31 billion for the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. As a group, analysts expect 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. Stockholders of record on Wednesday, March 5th will be paid a $0.3094 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Manulife Financial's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 4.14%. Manulife Financial's dividend payout ratio is 58.45%.

Institutional Investors Weigh In On Manulife Financial

Large investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in Manulife Financial in the 3rd quarter valued at about $26,000. Crews Bank & Trust acquired a new stake in Manulife Financial during the 4th quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new stake in Manulife Financial during the 3rd quarter valued at approximately $30,000. Lee Danner & Bass Inc. purchased a new stake in Manulife Financial during the 4th quarter worth approximately $31,000. Finally, Stonebridge Financial Group LLC acquired a new position in shares of Manulife Financial in the 4th quarter valued at approximately $34,000. 52.56% of the stock is owned by institutional investors and hedge funds.

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.