Intact Investment Management Inc. Has $91.71 Million Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Intact Investment Management Inc. decreased its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 12.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,102,945 shares of the financial services provider's stock after selling 425,830 shares during the quarter. Manulife Financial makes up about 3.0% of Intact Investment Management Inc.'s investment portfolio, making the stock its 3rd largest position. Intact Investment Management Inc. owned approximately 0.17% of Manulife Financial worth $91,711,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Grove Bank & Trust acquired a new stake in shares of Manulife Financial in the second quarter valued at approximately $25,000. West Financial Advisors LLC bought a new stake in shares of Manulife Financial during the third quarter worth $26,000. Addison Advisors LLC lifted its stake in shares of Manulife Financial by 77.2% during the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 467 shares during the period. HHM Wealth Advisors LLC boosted its holdings in Manulife Financial by 119.0% in the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 600 shares during the last quarter. Finally, Sachetta LLC increased its position in Manulife Financial by 209.5% in the second quarter. Sachetta LLC now owns 1,170 shares of the financial services provider's stock worth $31,000 after purchasing an additional 792 shares during the period. Institutional investors and hedge funds own 52.56% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MFC. Barclays initiated coverage on shares of Manulife Financial in a research note on Thursday, September 5th. They issued an "equal weight" rating on the stock. Dbs Bank raised shares of Manulife Financial to a "strong-buy" rating in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $35.67.

Manulife Financial Stock Up 0.8 %

Manulife Financial stock traded up $0.23 during mid-day trading on Monday, hitting $29.70. 1,336,518 shares of the company's stock were exchanged, compared to its average volume of 2,548,116. Manulife Financial Co. has a fifty-two week low of $18.05 and a fifty-two week high of $30.86. The firm has a market capitalization of $52.24 billion, a P/E ratio of 17.12, a PEG ratio of 1.06 and a beta of 1.08. The company's 50 day simple moving average is $29.03 and its 200-day simple moving average is $26.84.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.27. The firm had revenue of $9.41 billion during 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 period in the prior year, the business earned $0.62 EPS. Research analysts expect that Manulife Financial Co. will post 2.74 EPS for the current year.

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend was Wednesday, August 21st. 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.