Manulife Financial Co. (NYSE:MFC) Stock Position Lifted by Stifel Financial Corp

Stifel Financial Corp lifted its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 148,683 shares of the financial services provider’s stock after purchasing an additional 859 shares during the quarter. Stifel Financial Corp’s holdings in Manulife Financial were worth $4,394,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. 1832 Asset Management L.P. increased its position in shares of Manulife Financial by 34.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 19,723,609 shares of the financial services provider’s stock valued at $525,042,000 after purchasing an additional 5,036,716 shares during the period. Acadian Asset Management LLC boosted its stake in Manulife Financial by 288.4% during the second quarter. Acadian Asset Management LLC now owns 3,943,509 shares of the financial services provider’s stock valued at $104,966,000 after buying an additional 2,928,316 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new position in Manulife Financial during the second quarter worth about $35,806,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings 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 worth $30,922,000 after acquiring an additional 1,072,474 shares during the period. Finally, Bridgewater Associates LP raised its position in Manulife Financial by 169.6% in the third quarter. Bridgewater Associates LP now owns 1,404,481 shares of the financial services provider’s stock worth $41,554,000 after acquiring an additional 883,624 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Barclays assumed coverage on shares of Manulife Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating on the stock. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $37.50.

Manulife Financial Stock Up 0.4 %

NYSE:MFC opened at $30.93 on Monday. The stock has a fifty day simple moving average of $31.19 and a 200 day simple moving average of $28.32. The firm has a market capitalization of $54.19 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 1.16 and a beta of 1.09. Manulife Financial Co. has a 1-year low of $20.78 and a 1-year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.70 by $0.30. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The company had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $9.73 billion. During the same period last year, the company posted $0.69 earnings per share. Equities analysts predict that Manulife Financial Co. will post 2.72 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.296 per share. This represents a $1.18 annualized dividend and a yield of 3.83%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, November 20th. Manulife Financial’s payout ratio is presently 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.