Candriam S.C.A. Boosts Position in Manulife Financial Co. (NYSE:MFC)

Candriam S.C.A. boosted its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 41.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 659,686 shares of the financial services provider’s stock after purchasing an additional 194,177 shares during the quarter. Candriam S.C.A.’s holdings in Manulife Financial were worth $20,256,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. National Bank of Canada FI boosted its holdings in shares of Manulife Financial by 13.5% in the 3rd quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider’s stock valued at $829,374,000 after buying an additional 3,329,892 shares in the last quarter. Bridgewater Associates LP lifted 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 valued at $41,554,000 after acquiring an additional 883,624 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Manulife Financial by 1,067.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 686,418 shares of the financial services provider’s stock valued at $21,080,000 after acquiring an additional 627,614 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Manulife Financial by 8.1% during the third quarter. Geode Capital Management LLC now owns 8,273,260 shares of the financial services provider’s stock worth $247,473,000 after purchasing an additional 616,517 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Manulife Financial during the third quarter worth about $17,412,000. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Manulife Financial Stock Down 1.8 %

NYSE MFC opened at $29.41 on Friday. The firm has a market cap of $50.67 billion, a P/E ratio of 14.21, a P/E/G ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a 52-week low of $22.61 and a 52-week high of $33.07. The business’s 50-day moving average price is $30.28 and its 200 day moving average price is $30.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. As a group, analysts anticipate that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently announced 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 4.21%. 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 58.45%.

Analyst Ratings Changes

A number of brokerages recently issued reports on MFC. Royal Bank of Canada upped their target price on Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average 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.