Renaissance Technologies LLC Acquires New Shares in Manulife Financial Co. (NYSE:MFC)

Renaissance Technologies LLC acquired a new position in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 73,450 shares of the financial services provider's stock, valued at approximately $2,256,000.

A number of other institutional investors also recently bought and sold shares of the company. FIL Ltd raised its stake in shares of Manulife Financial by 21.7% during 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 last quarter. Ilmarinen Mutual Pension Insurance Co raised its position in Manulife Financial by 37.7% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 365,000 shares of the financial services provider's stock worth $11,202,000 after acquiring an additional 100,000 shares during the last quarter. Hurley Capital LLC purchased a new stake in shares of Manulife Financial in the fourth quarter valued at about $95,000. Thoroughbred Financial Services LLC acquired a new stake in shares of Manulife Financial in the fourth quarter valued at approximately $448,000. Finally, World Investment Advisors increased its stake in shares of Manulife Financial by 23.3% during the 4th quarter. World Investment Advisors now owns 15,223 shares of the financial services provider's stock worth $467,000 after purchasing an additional 2,872 shares in the last quarter. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Manulife Financial Stock Up 0.2 %

Shares of Manulife Financial stock opened at $30.26 on Friday. The firm has a market cap of $52.00 billion, a PE ratio of 14.62, a P/E/G ratio of 1.11 and a beta of 0.89. The business's fifty day moving average is $29.72 and its two-hundred day moving average is $30.41. Manulife Financial Co. has a fifty-two week low of $23.27 and a fifty-two week high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, beating 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 company had revenue of $9.31 billion during the quarter. Equities research analysts anticipate that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.3094 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.09%. 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 dividend payout ratio (DPR) is 58.45%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MFC shares. Royal Bank of Canada increased their target price on Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a report on Friday, February 21st. Scotiabank restated an "outperform" rating on shares of Manulife Financial in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $45.50.

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.

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