Manulife Financial Corp (MFC) Shares Bought by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec boosted its stake in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,874,797 shares of the financial services provider’s stock after acquiring an additional 152,541 shares during the period. Manulife Financial accounts for about 2.5% of Caisse DE Depot ET Placement DU Quebec’s holdings, making the stock its 7th biggest position. Caisse DE Depot ET Placement DU Quebec owned about 2.67% of Manulife Financial worth $1,074,555,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Ropes Wealth Advisors LLC bought a new stake in Manulife Financial in the second quarter worth about $103,000. D.A. Davidson & CO. raised its position in Manulife Financial by 17.5% in the second quarter. D.A. Davidson & CO. now owns 6,768 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 1,010 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Manulife Financial by 25.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,284 shares of the financial services provider’s stock worth $193,000 after acquiring an additional 2,103 shares during the period. Investment Centers of America Inc. bought a new stake in Manulife Financial in the third quarter worth about $216,000. Finally, First Capital Advisors Group LLC. bought a new stake in Manulife Financial in the third quarter worth about $223,000. 46.55% of the stock is currently owned by institutional investors and hedge funds.

MFC has been the topic of several research reports. Zacks Investment Research raised shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Tuesday, October 10th. Morgan Stanley lifted their price objective on shares of Manulife Financial from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Finally, ValuEngine lowered shares of Manulife Financial from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 18th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Manulife Financial currently has an average rating of “Buy” and an average price target of $25.00.

Manulife Financial Corp (NYSE MFC) traded down $0.11 on Tuesday, hitting $21.16. 2,775,400 shares of the stock traded hands, compared to its average volume of 2,380,416. The stock has a market capitalization of $42,090.04, a P/E ratio of 12.30, a price-to-earnings-growth ratio of 1.28 and a beta of 1.33. Manulife Financial Corp has a 52-week low of $16.62 and a 52-week high of $21.69.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Tuesday, November 21st will be paid a $0.1606 dividend. The ex-dividend date is Monday, November 20th. This represents a $0.64 annualized dividend and a dividend yield of 3.04%. Manulife Financial’s payout ratio is 45.71%.

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Manulife Financial Company Profile

Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.

Institutional Ownership by Quarter for Manulife Financial (NYSE:MFC)

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