The Manufacturers Life Insurance Company Raises Stock Position in Manulife Financial Co. (NYSE:MFC)

The Manufacturers Life Insurance Company grew its position in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,035,663 shares of the financial services provider's stock after purchasing an additional 36,838 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.12% of Manulife Financial worth $60,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of MFC. SVB Wealth LLC bought a new position in shares of Manulife Financial during the first quarter worth $209,000. LRI Investments LLC purchased a new stake in Manulife Financial during the first quarter valued at $157,000. Invst LLC purchased a new stake in Manulife Financial during the first quarter valued at $220,000. Cetera Investment Advisers raised its stake in Manulife Financial by 386.1% during the first quarter. Cetera Investment Advisers now owns 144,854 shares of the financial services provider's stock valued at $3,620,000 after purchasing an additional 115,053 shares in the last quarter. Finally, Cetera Advisors LLC raised its stake in Manulife Financial by 90.4% during the first quarter. Cetera Advisors LLC now owns 99,602 shares of the financial services provider's stock valued at $2,489,000 after purchasing an additional 47,303 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MFC shares. Barclays started coverage on shares of Manulife Financial in a research note on Thursday, September 5th. They issued an "equal weight" rating on the stock. Dbs Bank upgraded shares of Manulife Financial to a "strong-buy" rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $37.50.

Manulife Financial Stock Performance

Manulife Financial stock traded up $0.04 during trading on Thursday, reaching $31.89. The company had a trading volume of 1,862,543 shares, compared to its average volume of 2,538,500. Manulife Financial Co. has a 1-year low of $19.20 and a 1-year high of $33.07. The firm's 50-day simple moving average is $30.66 and its 200 day simple moving average is $27.86. The firm has a market capitalization of $55.87 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.17 and a beta of 1.08.

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

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be issued a $0.296 dividend. This is a positive change from Manulife Financial's previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial's payout ratio is 57.00%.

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.