Manulife Financial Co. (NYSE:MFC) Shares Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 312,357 shares of the financial services provider’s stock after acquiring an additional 4,164 shares during the period. Commonwealth Equity Services LLC’s holdings in Manulife Financial were worth $9,593,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in MFC. National Bank of Canada FI boosted its position in Manulife Financial by 13.5% during 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 purchasing an additional 3,329,892 shares during the period. Bridgewater Associates LP lifted its stake 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 buying an additional 883,624 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Manulife Financial by 1,067.3% during 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 during the period. Geode Capital Management LLC grew its position 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 acquiring 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 in the 3rd quarter worth about $17,412,000. 52.56% of the stock is owned by institutional investors.

Manulife Financial Stock Up 1.6 %

Shares of NYSE MFC opened at $30.51 on Thursday. The stock has a market cap of $52.56 billion, a P/E ratio of 14.74, a P/E/G ratio of 1.11 and a beta of 1.05. The firm’s 50-day simple moving average is $30.04 and its 200 day simple moving average is $30.25. Manulife Financial Co. has a fifty-two week low of $22.61 and a fifty-two week high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. The company had revenue of $9.31 billion for the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. On average, sell-side analysts anticipate that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.3094 per share. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend was Wednesday, March 5th. Manulife Financial’s dividend payout ratio (DPR) is presently 58.45%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Royal Bank of Canada boosted their target price 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 reiterated an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock 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.