Rockefeller Capital Management L.P. Makes New Investment in Manulife Financial Co. (NYSE:MFC)

Rockefeller Capital Management L.P. acquired a new stake in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,155 shares of the financial services provider's stock, valued at approximately $372,000.

Other hedge funds have also recently modified their holdings of the company. Little House Capital LLC raised its position in Manulife Financial by 1.0% in the 4th quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider's stock valued at $1,037,000 after purchasing an additional 331 shares in the last quarter. Robertson Stephens Wealth Management LLC raised its holdings in shares of Manulife Financial by 1.5% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 23,068 shares of the financial services provider's stock valued at $708,000 after purchasing an additional 339 shares in the last quarter. Erste Asset Management GmbH grew its stake in shares of Manulife Financial by 0.6% during the fourth quarter. Erste Asset Management GmbH now owns 69,300 shares of the financial services provider's stock worth $2,133,000 after purchasing an additional 400 shares in the last quarter. TIAA Trust National Association raised its stake in Manulife Financial by 5.0% in the fourth quarter. TIAA Trust National Association now owns 8,419 shares of the financial services provider's stock valued at $259,000 after buying an additional 404 shares in the last quarter. Finally, Addison Advisors LLC lifted its holdings in Manulife Financial by 45.9% during the 4th quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider's stock worth $44,000 after buying an additional 449 shares during the last quarter. Hedge funds and other institutional investors own 52.56% of the company's stock.

Analysts Set New Price Targets

MFC has been the subject of a number of research analyst reports. Scotiabank reaffirmed an "outperform" rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada boosted their price target on shares of Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Manulife Financial presently has an average rating of "Buy" and a consensus target price of $45.50.

Manulife Financial Price Performance

Shares of NYSE:MFC traded up $0.20 on Monday, reaching $30.44. The company's stock had a trading volume of 921,969 shares, compared to its average volume of 2,233,631. Manulife Financial Co. has a 52-week low of $23.27 and a 52-week high of $33.07. The stock has a market capitalization of $52.30 billion, a P/E ratio of 14.68, a PEG ratio of 1.11 and a beta of 0.89. The stock's 50-day moving average is $29.72 and its two-hundred day moving average is $30.42.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.07. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The firm had revenue of $9.31 billion for the quarter. Equities analysts forecast that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.3094 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 4.07%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, March 5th. Manulife Financial's dividend payout ratio (DPR) is 58.45%.

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.