International Assets Investment Management LLC Makes New Investment in Manulife Financial Co. (NYSE:MFC)

International Assets Investment Management LLC acquired a new position in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 32,365 shares of the financial services provider's stock, valued at approximately $956,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norden Group LLC purchased a new stake in shares of Manulife Financial during the 1st quarter valued at about $620,000. Private Advisor Group LLC raised its stake in Manulife Financial by 295.4% during the 1st quarter. Private Advisor Group LLC now owns 60,860 shares of the financial services provider's stock valued at $1,521,000 after buying an additional 45,469 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Manulife Financial by 7,887.4% during the 1st quarter. BNP Paribas Financial Markets now owns 34,346 shares of the financial services provider's stock valued at $858,000 after buying an additional 33,916 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Manulife Financial by 38.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 123,344 shares of the financial services provider's stock worth $3,082,000 after buying an additional 34,545 shares during the last quarter. Finally, Callan Capital LLC purchased a new stake in Manulife Financial during the first quarter valued at $340,000. 52.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MFC has been the subject of a number of recent research reports. Dbs Bank upgraded Manulife Financial to a "strong-buy" rating in a research note on Thursday, August 8th. Barclays assumed coverage on shares of Manulife Financial in a report on Thursday, September 5th. They set an "equal weight" rating for the company. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $35.67.

Manulife Financial Trading Up 1.0 %

Manulife Financial stock traded up $0.29 during midday trading on Tuesday, hitting $29.99. The stock had a trading volume of 982,894 shares, compared to its average volume of 2,540,600. The firm's fifty day moving average is $29.13 and its two-hundred day moving average is $26.93. The company has a market capitalization of $52.75 billion, a PE ratio of 17.34, a P/E/G ratio of 1.07 and a beta of 1.08. Manulife Financial Co. has a 52-week low of $18.05 and a 52-week high of $30.86.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.27. The business 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 last year, the firm posted $0.62 EPS. As a group, equities research analysts predict that Manulife Financial Co. will post 2.74 earnings per share for the current fiscal year.

Manulife Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st were issued a $0.29 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $1.16 annualized dividend and a dividend yield of 3.87%. Manulife Financial's dividend payout ratio (DPR) is 66.47%.

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.