Manulife Financial Co. (NYSE:MFC) Shares Acquired by Todd Asset Management LLC

Todd Asset Management LLC increased its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 34.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 982,237 shares of the financial services provider’s stock after buying an additional 251,356 shares during the quarter. Todd Asset Management LLC’s holdings in Manulife Financial were worth $30,164,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Private Advisor Group LLC lifted its stake in shares of Manulife Financial by 1.2% in the 3rd quarter. Private Advisor Group LLC now owns 69,436 shares of the financial services provider’s stock valued at $2,052,000 after purchasing an additional 839 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Manulife Financial in the third quarter valued at about $956,000. Assenagon Asset Management S.A. boosted its stake in Manulife Financial by 12.2% during the third quarter. Assenagon Asset Management S.A. now owns 58,804 shares of the financial services provider’s stock worth $1,740,000 after buying an additional 6,410 shares during the period. Arkadios Wealth Advisors increased its position in shares of Manulife Financial by 1.3% during the third quarter. Arkadios Wealth Advisors now owns 41,841 shares of the financial services provider’s stock valued at $1,236,000 after acquiring an additional 547 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in shares of Manulife Financial in the 3rd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Down 0.9 %

Shares of MFC opened at $30.10 on Tuesday. Manulife Financial Co. has a fifty-two week low of $22.61 and a fifty-two week high of $33.07. The company has a market cap of $51.87 billion, a P/E ratio of 14.54, a PEG ratio of 1.11 and a beta of 1.09. The firm’s 50 day moving average price is $30.30 and its 200 day moving average price is $29.87.

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

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.3094 dividend. This represents a $1.24 annualized dividend and a dividend yield of 4.11%. The ex-dividend date is Wednesday, March 5th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s dividend payout ratio (DPR) is presently 58.45%.

Wall Street Analyst Weigh In

MFC has been the subject of a number of research analyst reports. Royal Bank of Canada increased their price objective on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $45.50.

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.