SevenBridge Financial Group LLC lifted its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1,811.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,894 shares of the financial services provider’s stock after purchasing an additional 10,324 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Manulife Financial were worth $227,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. TD Asset Management Inc. grew its stake in shares of Manulife Financial by 1.6% in the third quarter. TD Asset Management Inc. now owns 59,703,080 shares of the financial services provider’s stock worth $1,208,240,000 after purchasing an additional 927,841 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Manulife Financial by 0.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 52,874,797 shares of the financial services provider’s stock worth $1,074,555,000 after purchasing an additional 152,541 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Manulife Financial by 270.1% in the fourth quarter. Mackenzie Financial Corp now owns 49,553,149 shares of the financial services provider’s stock worth $1,033,679,000 after purchasing an additional 36,162,505 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Manulife Financial by 0.4% in the fourth quarter. CIBC Asset Management Inc now owns 22,573,094 shares of the financial services provider’s stock valued at $472,829,000 after buying an additional 80,120 shares during the period. Finally, Great West Life Assurance Co. Can lifted its holdings in shares of Manulife Financial by 7.5% in the third quarter. Great West Life Assurance Co. Can now owns 21,013,888 shares of the financial services provider’s stock valued at $425,407,000 after buying an additional 1,463,511 shares during the period. 46.60% of the stock is owned by institutional investors.
Several analysts have recently weighed in on the company. ValuEngine upgraded Manulife Financial from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Zacks Investment Research lowered Manulife Financial from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Morgan Stanley cut their price objective on Manulife Financial from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, February 22nd. Scotiabank restated a “buy” rating and issued a $31.00 price objective on shares of Manulife Financial in a report on Wednesday, January 31st. Finally, National Bank Financial upgraded Manulife Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 24th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Manulife Financial currently has a consensus rating of “Buy” and an average target price of $27.00.
Shares of MFC stock opened at $19.08 on Wednesday. The firm has a market capitalization of $36,785.07, a price-to-earnings ratio of 25.66, a PEG ratio of 0.94 and a beta of 1.33. Manulife Financial Co. has a twelve month low of $16.62 and a twelve month high of $22.16.
Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.01). The firm had revenue of $12.79 billion during the quarter. Manulife Financial had a net margin of 3.50% and a return on equity of 11.49%. research analysts forecast that Manulife Financial Co. will post 2.07 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 19th. Stockholders of record on Wednesday, February 21st were issued a $0.175 dividend. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, February 20th. This represents a $0.70 annualized dividend and a dividend yield of 3.67%. Manulife Financial’s dividend payout ratio is 94.59%.
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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.
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