Sanctuary Advisors LLC Purchases 43,877 Shares of Manulife Financial Co. (NYSE:MFC)

Sanctuary Advisors LLC raised its stake in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 148.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,346 shares of the financial services provider's stock after purchasing an additional 43,877 shares during the period. Sanctuary Advisors LLC's holdings in Manulife Financial were worth $2,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Manulife Financial by 1,210.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,161,059 shares of the financial services provider's stock valued at $30,922,000 after purchasing an additional 1,072,474 shares during the period. Legal & General Group Plc raised its position in Manulife Financial by 0.5% during the second quarter. Legal & General Group Plc now owns 14,783,400 shares of the financial services provider's stock valued at $393,592,000 after purchasing an additional 75,244 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new stake in Manulife Financial during the third quarter valued at approximately $13,318,000. DRW Securities LLC purchased a new stake in Manulife Financial during the third quarter valued at approximately $1,008,000. Finally, Toronto Dominion Bank raised its position in Manulife Financial by 3.2% during the second quarter. Toronto Dominion Bank now owns 24,057,503 shares of the financial services provider's stock valued at $640,411,000 after purchasing an additional 750,422 shares during the period. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Barclays assumed coverage on Manulife Financial in a report on Thursday, September 5th. They issued an "equal weight" rating on the stock. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $37.50.

Manulife Financial Trading Down 3.4 %

Shares of NYSE MFC traded down $1.03 during midday trading on Wednesday, hitting $29.70. The company's stock had a trading volume of 1,312,280 shares, compared to its average volume of 2,531,045. The business's 50 day moving average is $31.23 and its two-hundred day moving average is $28.40. Manulife Financial Co. has a 12-month low of $20.78 and a 12-month high of $33.07. The firm has a market cap of $52.03 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 1.16 and a beta of 1.09.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The firm had revenue of $10.69 billion for the quarter, compared to the consensus estimate of $9.73 billion. During the same period in the prior year, the business posted $0.69 earnings per share. On average, analysts predict that Manulife Financial Co. will post 2.72 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be paid a $0.296 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.18 annualized dividend and a yield of 3.99%. This is a boost from Manulife Financial's previous quarterly dividend of $0.29. Manulife Financial's dividend payout ratio is 57.00%.

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.