Forsta AP Fonden Has $16.76 Million Stock Position in Manulife Financial Co. (NYSE:MFC)

Forsta AP Fonden grew its position in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 22.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 566,300 shares of the financial services provider's stock after purchasing an additional 103,400 shares during the period. Forsta AP Fonden's holdings in Manulife Financial were worth $16,755,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MFC. Grove Bank & Trust bought a new position in Manulife Financial during the second quarter worth $25,000. West Financial Advisors LLC acquired a new position in shares of Manulife Financial in the 3rd quarter worth approximately $26,000. Addison Advisors LLC lifted its position in shares of Manulife Financial by 77.2% during the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider's stock worth $29,000 after buying an additional 467 shares during the period. HHM Wealth Advisors LLC raised its stake in Manulife Financial by 119.0% during the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider's stock worth $29,000 after acquiring an additional 600 shares in the last quarter. Finally, Sachetta LLC lifted its holdings in shares of Manulife Financial by 209.5% during the second quarter. Sachetta LLC now owns 1,170 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 792 shares during the period. 52.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on MFC. Barclays started coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They issued an "equal weight" rating on the stock. Dbs Bank upgraded shares of Manulife Financial to a "strong-buy" rating in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $35.67.

Manulife Financial Price Performance

Shares of Manulife Financial stock traded down $0.19 on Friday, hitting $29.79. The company had a trading volume of 954,351 shares, compared to its average volume of 2,578,340. Manulife Financial Co. has a twelve month low of $17.07 and a twelve month high of $30.86. The stock has a 50-day moving average of $28.69 and a 200-day moving average of $26.60. The firm has a market capitalization of $52.40 billion, a P/E ratio of 17.22, a P/E/G ratio of 1.10 and a beta of 1.08.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its quarterly earnings data 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. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. The business had revenue of $9.41 billion during the quarter, compared to the consensus estimate of $8.95 billion. During the same period last year, the company earned $0.62 earnings per share. Equities analysts predict that Manulife Financial Co. will post 2.74 EPS for the current year.

Manulife Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 21st were issued a dividend of $0.29 per share. The ex-dividend date was Wednesday, August 21st. This represents a $1.16 dividend on an annualized basis and a yield of 3.89%. Manulife Financial's payout ratio is 67.05%.

About Manulife Financial

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.