Mn Services Vermogensbeheer B.V. Buys 13,200 Shares of Manulife Financial Co. (NYSE:MFC)

Mn Services Vermogensbeheer B.V. raised its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 713,637 shares of the financial services provider’s stock after acquiring an additional 13,200 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Manulife Financial were worth $21,912,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MFC. K.J. Harrison & Partners Inc grew its holdings in Manulife Financial by 173.8% during the 4th quarter. K.J. Harrison & Partners Inc now owns 48,130 shares of the financial services provider’s stock valued at $1,467,000 after purchasing an additional 30,554 shares during the last quarter. Todd Asset Management LLC lifted its stake in Manulife Financial by 34.4% in the fourth quarter. Todd Asset Management LLC now owns 982,237 shares of the financial services provider’s stock worth $30,164,000 after purchasing an additional 251,356 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Manulife Financial by 4.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,809,774 shares of the financial services provider’s stock valued at $55,578,000 after buying an additional 81,799 shares during the period. Addison Advisors LLC grew its stake in shares of Manulife Financial by 45.9% during the fourth quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider’s stock valued at $44,000 after buying an additional 449 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Manulife Financial in the fourth quarter worth approximately $138,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. 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. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Manulife Financial has a consensus rating of “Buy” and a consensus target price of $45.50.

Manulife Financial Stock Down 0.1 %

MFC opened at $30.77 on Friday. Manulife Financial Co. has a 52 week low of $22.61 and a 52 week high of $33.07. The company has a market capitalization of $53.02 billion, a P/E ratio of 14.86, a PEG ratio of 1.11 and a beta of 1.09. The stock’s fifty day moving average is $30.34 and its two-hundred day moving average is $29.92.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.67 by $0.07. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The firm had revenue of $9.31 billion for the quarter. Equities analysts anticipate that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.3094 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.02%. Manulife Financial’s dividend payout ratio (DPR) is currently 58.45%.

Manulife Financial 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.