Mufg Securities Canada LTD. Grows Holdings in Manulife Financial Co. (NYSE:MFC)

Mufg Securities Canada LTD. increased its position in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 69.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,675,176 shares of the financial services provider's stock after acquiring an additional 1,096,933 shares during the quarter. Manulife Financial comprises about 3.0% of Mufg Securities Canada LTD.'s holdings, making the stock its 13th biggest holding. Mufg Securities Canada LTD. owned 0.16% of Manulife Financial worth $82,130,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Royal Bank of Canada raised their price objective on shares of Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Scotiabank restated an "outperform" rating on shares of Manulife Financial in a research report 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. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $45.50.

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Manulife Financial Price Performance

Manulife Financial stock traded down $0.35 during trading hours on Friday, reaching $30.77. The stock had a trading volume of 2,343,501 shares, compared to its average volume of 2,211,257. The company has a fifty day simple moving average of $30.14 and a 200-day simple moving average of $30.42. Manulife Financial Co. has a 52 week low of $22.61 and a 52 week high of $33.07. The stock has a market cap of $53.01 billion, a PE ratio of 14.87, a PEG ratio of 1.11 and a beta of 1.05.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping 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%. Research analysts predict that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid 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 dividend yield of 4.02%. Manulife Financial's payout ratio is 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.