Natixis grew its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 25.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 228,521 shares of the financial services provider's stock after acquiring an additional 46,775 shares during the period. Natixis' holdings in Manulife Financial were worth $7,018,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Manulife Financial during the 4th quarter valued at about $654,751,000. FIL Ltd boosted its position in Manulife Financial by 21.7% during the fourth quarter. FIL Ltd now owns 39,610,614 shares of the financial services provider's stock worth $1,216,880,000 after purchasing an additional 7,053,066 shares during the period. Geode Capital Management LLC grew its holdings in Manulife Financial by 28.7% during the fourth quarter. Geode Capital Management LLC now owns 10,650,598 shares of the financial services provider's stock valued at $333,291,000 after purchasing an additional 2,377,338 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Manulife Financial by 42.1% in the fourth quarter. Canada Pension Plan Investment Board now owns 7,427,745 shares of the financial services provider's stock valued at $227,895,000 after purchasing an additional 2,200,000 shares during the period. Finally, Hillsdale Investment Management Inc. lifted its stake in shares of Manulife Financial by 216.0% in the fourth quarter. Hillsdale Investment Management Inc. now owns 2,545,393 shares of the financial services provider's stock worth $78,110,000 after buying an additional 1,739,853 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company's stock.
Wall Street Analyst Weigh In
MFC has been the topic of several recent analyst reports. Scotiabank reiterated an "outperform" rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada lifted their price objective on Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. One 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 MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $45.50.
Check Out Our Latest Analysis on Manulife Financial
Manulife Financial Price Performance
NYSE:MFC opened at $28.60 on Monday. The stock has a market cap of $49.14 billion, a P/E ratio of 13.82, a PEG ratio of 1.11 and a beta of 0.89. The company has a fifty day moving average price of $29.73 and a 200 day moving average price of $30.43. Manulife Financial Co. has a one year low of $22.96 and a one year 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. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The business had revenue of $9.31 billion during the quarter. As a group, equities research analysts anticipate that Manulife Financial Co. will post 2.87 EPS for the current year.
Manulife Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.3094 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost from Manulife Financial's previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.33%. Manulife Financial's payout ratio is currently 58.45%.
Manulife Financial Company Profile
(
Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Manulife Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Manulife Financial wasn't on the list.
While Manulife Financial currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
