Entropy Technologies LP Makes New $1.35 Million Investment in Manulife Financial Co. (NYSE:MFC)

Entropy Technologies LP acquired a new position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 45,764 shares of the financial services provider’s stock, valued at approximately $1,352,000.

Several other hedge funds and other institutional investors have also modified their holdings of MFC. Toronto Dominion Bank boosted its holdings in shares of Manulife Financial by 57.9% in the 1st quarter. Toronto Dominion Bank now owns 23,307,081 shares of the financial services provider’s stock valued at $582,444,000 after buying an additional 8,548,114 shares during the period. 1832 Asset Management L.P. boosted its holdings in shares of Manulife Financial by 103.1% in the 1st quarter. 1832 Asset Management L.P. now owns 14,686,893 shares of the financial services provider’s stock valued at $367,025,000 after buying an additional 7,456,712 shares during the period. National Bank of Canada FI boosted its holdings in shares of Manulife Financial by 14.8% in the 1st quarter. National Bank of Canada FI now owns 28,803,968 shares of the financial services provider’s stock valued at $749,435,000 after buying an additional 3,720,693 shares during the period. M&G Plc acquired a new position in shares of Manulife Financial in the 1st quarter valued at about $75,231,000. Finally, Acadian Asset Management LLC boosted its holdings in shares of Manulife Financial by 288.4% in the 2nd quarter. Acadian Asset Management LLC now owns 3,943,509 shares of the financial services provider’s stock valued at $104,966,000 after buying an additional 2,928,316 shares during the period. 52.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MFC. Barclays started coverage on shares of Manulife Financial in a report on Thursday, September 5th. They issued an “equal weight” rating for the company. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $37.50.

Manulife Financial Stock Down 0.2 %

Manulife Financial stock opened at $32.44 on Thursday. Manulife Financial Co. has a 52-week low of $18.78 and a 52-week high of $32.94. The firm has a market capitalization of $57.06 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 1.19 and a beta of 1.08. The firm has a 50-day moving average price of $29.59 and a two-hundred day moving average price of $27.24.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.30. The company had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.73 billion. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. During the same period in the prior year, the business posted $0.69 EPS. Research analysts expect that Manulife Financial Co. will post 2.74 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be paid a $0.296 dividend. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date is Wednesday, November 20th. Manulife Financial’s dividend payout ratio is currently 57.00%.

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.