Manulife Financial Co. (NYSE:MFC) Short Interest Update

Manulife Financial Co. (NYSE:MFC - Get Free Report) TSE: MFC saw a large increase in short interest in February. As of February 15th, there was short interest totalling 40,090,000 shares, an increase of 258.6% from the January 31st total of 11,180,000 shares. Approximately 2.3% of the shares of the stock are short sold. Based on an average trading volume of 2,090,000 shares, the days-to-cover ratio is presently 19.2 days.

Manulife Financial Trading Down 4.5 %

MFC stock traded down $1.37 during midday trading on Tuesday, hitting $29.26. 9,064,385 shares of the company's stock were exchanged, compared to its average volume of 2,009,644. The business has a 50-day simple moving average of $30.32 and a two-hundred day simple moving average of $30.08. The stock has a market capitalization of $50.41 billion, a PE ratio of 14.13, a P/E/G ratio of 1.11 and a beta of 1.05. Manulife Financial has a 1-year low of $22.61 and a 1-year high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its earnings results 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 for the quarter. As a group, research analysts expect that Manulife Financial will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.3094 dividend. This represents a $1.24 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Manulife Financial's previous quarterly dividend of $0.30. Manulife Financial's dividend payout ratio (DPR) is 58.45%.

Institutional Trading of Manulife Financial

Several institutional investors have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. increased its holdings in Manulife Financial by 6.7% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 13,168 shares of the financial services provider's stock valued at $404,000 after purchasing an additional 830 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Manulife Financial by 0.9% during the 4th quarter. Mackenzie Financial Corp now owns 24,614,416 shares of the financial services provider's stock worth $755,367,000 after acquiring an additional 230,105 shares in the last quarter. Invst LLC lifted its stake in Manulife Financial by 12.2% during the 4th quarter. Invst LLC now owns 22,352 shares of the financial services provider's stock worth $686,000 after acquiring an additional 2,423 shares in the last quarter. WCG Wealth Advisors LLC lifted its stake in Manulife Financial by 4.5% during the 4th quarter. WCG Wealth Advisors LLC now owns 30,903 shares of the financial services provider's stock worth $949,000 after acquiring an additional 1,332 shares in the last quarter. Finally, Pacific Point Advisors LLC acquired a new position in Manulife Financial during the 4th quarter worth about $335,000. Institutional investors and hedge funds own 52.56% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MFC. Royal Bank of Canada raised their price target 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 note on Monday, February 3rd. One 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 stock. According to MarketBeat, Manulife Financial presently has a consensus rating of "Buy" and a consensus price target of $45.50.

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.