Northwest & Ethical Investments L.P. Increases Stake in Manulife Financial Co. (NYSE:MFC)

Northwest & Ethical Investments L.P. boosted its stake in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 8.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 488,364 shares of the financial services provider's stock after buying an additional 36,539 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Manulife Financial were worth $14,976,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MFC. National Bank of Canada FI increased its position in shares of Manulife Financial by 13.5% during the third quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider's stock valued at $829,374,000 after acquiring an additional 3,329,892 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Manulife Financial by 1.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,334,413 shares of the financial services provider's stock worth $347,757,000 after buying an additional 190,738 shares during the period. Geode Capital Management LLC boosted its position in Manulife Financial by 8.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,273,260 shares of the financial services provider's stock valued at $247,473,000 after buying an additional 616,517 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Manulife Financial by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,186,930 shares of the financial services provider's stock worth $153,455,000 after purchasing an additional 158,216 shares during the period. Finally, Alberta Investment Management Corp increased its stake in shares of Manulife Financial by 5.1% during the fourth quarter. Alberta Investment Management Corp now owns 4,896,049 shares of the financial services provider's stock worth $150,333,000 after buying an additional 236,808 shares during the period. Institutional investors and hedge funds own 52.56% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MFC. Royal Bank of Canada lifted their price target on Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. Scotiabank restated an "outperform" rating on shares of Manulife Financial in a research note on Monday, February 3rd. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $45.50.

Manulife Financial Stock Performance

Shares of MFC stock traded up $0.90 during mid-day trading on Monday, hitting $31.34. 1,450,229 shares of the stock were exchanged, compared to its average volume of 1,950,626. The stock has a market capitalization of $53.99 billion, a price-to-earnings ratio of 15.14, a P/E/G ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a 12-month low of $22.61 and a 12-month high of $33.07. The stock's fifty day simple moving average is $30.09 and its two-hundred day simple moving average is $30.34.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter. On average, research analysts expect 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. This is an increase from Manulife Financial's previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, March 5th. This represents a $1.24 annualized dividend and a dividend yield of 3.95%. Manulife Financial's dividend payout ratio is 58.45%.

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.