Manulife Financial Co. (NYSE:MFC) Holdings Decreased by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its stake in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 17.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,651,941 shares of the financial services provider's stock after selling 347,915 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.10% of Manulife Financial worth $50,697,000 as of its most recent filing with the SEC.

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

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Manulife Financial Trading Up 2.7 %

MFC traded up $0.74 during trading on Friday, reaching $28.04. 4,106,230 shares of the company were exchanged, compared to its average volume of 2,244,397. The stock has a market cap of $48.30 billion, a P/E ratio of 13.54, a PEG ratio of 1.11 and a beta of 0.89. Manulife Financial Co. has a 52 week low of $22.61 and a 52 week high of $33.07. The firm has a 50 day moving average of $29.85 and a 200 day moving average of $30.46.

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

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.3094 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost from Manulife Financial's previous quarterly dividend of $0.30. Manulife Financial's payout ratio is 58.45%.

Analysts Set New Price Targets

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

Manulife Financial 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.