Qtron Investments LLC lessened its stake in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 27.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,909 shares of the financial services provider's stock after selling 14,600 shares during the quarter. Qtron Investments LLC's holdings in Manulife Financial were worth $1,195,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. FIL Ltd lifted its holdings in Manulife Financial by 21.7% in the 4th quarter. FIL Ltd now owns 39,610,614 shares of the financial services provider's stock worth $1,216,880,000 after buying an additional 7,053,066 shares during the period. TD Asset Management Inc. raised its holdings in shares of Manulife Financial by 0.7% during the fourth quarter. TD Asset Management Inc. now owns 34,803,859 shares of the financial services provider's stock valued at $1,068,654,000 after acquiring an additional 228,863 shares in the last quarter. Norges Bank purchased a new stake in Manulife Financial in the fourth quarter worth $654,751,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Manulife Financial by 1.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,334,413 shares of the financial services provider's stock valued at $347,757,000 after acquiring an additional 190,738 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Manulife Financial by 28.7% during the 4th quarter. Geode Capital Management LLC now owns 10,650,598 shares of the financial services provider's stock valued at $333,291,000 after purchasing an additional 2,377,338 shares during the period. Institutional investors own 52.56% of the company's stock.
Manulife Financial Stock Up 0.8 %
Shares of NYSE:MFC traded up $0.23 during midday trading on Tuesday, reaching $28.99. The company's stock had a trading volume of 1,604,916 shares, compared to its average volume of 2,245,901. Manulife Financial Co. has a 12-month low of $22.61 and a 12-month high of $33.07. The firm has a market capitalization of $49.82 billion, a P/E ratio of 14.01, a PEG ratio of 1.11 and a beta of 0.89. The firm has a 50 day moving average of $29.83 and a 200-day moving average of $30.46.
Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share 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 predict that Manulife Financial Co. will post 2.87 EPS for the current year.
Manulife Financial Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.3094 dividend. This represents a $1.24 annualized dividend and a yield of 4.27%. This is an increase from Manulife Financial's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, March 5th. Manulife Financial's payout ratio is 58.45%.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on MFC. Royal Bank of Canada lifted their target price on shares of Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a research note on Friday, February 21st. Scotiabank reaffirmed an "outperform" rating on shares of Manulife Financial in a research report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $45.50.
Read Our Latest Research Report on MFC
About Manulife Financial
(
Free Report)
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.
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