Manulife Financial Co. (NYSE:MFC) Short Interest Up 258.6% in February

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) was the recipient of a large increase in short interest in February. As of February 15th, there was short interest totalling 40,090,000 shares, an increase of 258.6% from the January 31st total of 11,180,000 shares. Currently, 2.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,090,000 shares, the days-to-cover ratio is currently 19.2 days.

Manulife Financial Trading Up 1.2 %

Shares of Manulife Financial stock traded up $0.38 during trading hours on Friday, reaching $31.15. 2,821,325 shares of the company’s stock were exchanged, compared to its average volume of 2,169,816. The firm has a market capitalization of $53.67 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 1.11 and a beta of 1.09. The company has a fifty day moving average of $30.35 and a 200-day moving average of $29.96. Manulife Financial has a 52-week low of $22.61 and a 52-week high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data 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 business had revenue of $9.31 billion during the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. On average, equities research analysts anticipate that Manulife Financial will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 3.97%. Manulife Financial’s dividend payout ratio (DPR) is currently 58.45%.

Analysts Set New Price Targets

MFC has been the topic of a number of recent research reports. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada increased their price target on Manulife Financial from $49.00 to $51.00 and gave the stock 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Manulife Financial presently has a consensus rating of “Buy” and an average target price of $45.50.

Institutional Trading of Manulife Financial

Several large investors have recently modified their holdings of MFC. International Assets Investment Management LLC bought a new position in shares of Manulife Financial during the third quarter worth about $956,000. Assenagon Asset Management S.A. lifted its holdings in Manulife Financial by 12.2% in the third quarter. Assenagon Asset Management S.A. now owns 58,804 shares of the financial services provider’s stock worth $1,740,000 after acquiring an additional 6,410 shares during the last quarter. Fortitude Family Office LLC bought a new position in Manulife Financial in the third quarter worth about $31,000. Measured Wealth Private Client Group LLC lifted its holdings in Manulife Financial by 6.0% in the third quarter. Measured Wealth Private Client Group LLC now owns 48,302 shares of the financial services provider’s stock worth $1,427,000 after acquiring an additional 2,740 shares during the last quarter. Finally, Americana Partners LLC lifted its holdings in Manulife Financial by 0.5% in the third quarter. Americana Partners LLC now owns 69,967 shares of the financial services provider’s stock worth $2,068,000 after acquiring an additional 364 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

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.