Dixon Mitchell Investment Counsel Inc. Raises Stake in Manulife Financial Co. (NYSE:MFC)

Dixon Mitchell Investment Counsel Inc. boosted its position in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 8.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 550,226 shares of the financial services provider's stock after purchasing an additional 40,748 shares during the quarter. Dixon Mitchell Investment Counsel Inc.'s holdings in Manulife Financial were worth $16,279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of MFC. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Manulife Financial by 3.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 30,773 shares of the financial services provider's stock worth $909,000 after buying an additional 931 shares during the last quarter. Sumitomo Life Insurance Co. increased its holdings in shares of Manulife Financial by 3.1% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 30,773 shares of the financial services provider's stock worth $909,000 after buying an additional 931 shares during the last quarter. Tsfg LLC increased its holdings in shares of Manulife Financial by 103.8% in the 3rd quarter. Tsfg LLC now owns 1,404 shares of the financial services provider's stock worth $42,000 after buying an additional 715 shares during the last quarter. Mustard Seed Financial LLC bought a new position in shares of Manulife Financial in the 3rd quarter worth $205,000. Finally, Creative Planning increased its holdings in shares of Manulife Financial by 3.9% in the 3rd quarter. Creative Planning now owns 173,349 shares of the financial services provider's stock worth $5,122,000 after buying an additional 6,455 shares during the last quarter. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on MFC. Barclays initiated coverage on shares of Manulife Financial in a report on Thursday, September 5th. They issued an "equal weight" rating on the stock. TD Securities increased their target price on shares of Manulife Financial from $38.00 to $40.00 and gave the company a "buy" rating in a report on Friday, June 28th. Finally, Dbs Bank raised shares of Manulife Financial to a "strong-buy" rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $35.67.

Manulife Financial Price Performance

Manulife Financial stock traded down $0.07 during trading hours on Friday, reaching $30.49. The stock had a trading volume of 1,221,240 shares, compared to its average volume of 2,615,035. The stock has a market cap of $54.57 billion, a PE ratio of 17.73, a PEG ratio of 1.09 and a beta of 1.08. Manulife Financial Co. has a 52 week low of $17.07 and a 52 week high of $30.86. The company has a fifty day simple moving average of $28.26 and a 200-day simple moving average of $26.38.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.27. The business had revenue of $9.41 billion for the quarter, compared to analyst estimates of $8.95 billion. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. During the same quarter last year, the firm earned $0.62 EPS. Research analysts predict that Manulife Financial Co. will post 2.73 earnings per share for the current fiscal year.

Manulife Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date was Wednesday, August 21st. Manulife Financial's dividend payout ratio (DPR) is presently 66.86%.

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.