Manulife Financial Co. (NYSE:MFC) Stock Position Lowered by Intact Investment Management Inc.

Intact Investment Management Inc. lessened its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 30.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,157,355 shares of the financial services provider’s stock after selling 945,590 shares during the quarter. Manulife Financial comprises approximately 2.3% of Intact Investment Management Inc.’s portfolio, making the stock its 6th largest position. Intact Investment Management Inc. owned about 0.13% of Manulife Financial worth $66,267,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in shares of Manulife Financial during the 3rd quarter valued at approximately $26,000. Crews Bank & Trust purchased a new stake in Manulife Financial in the fourth quarter valued at approximately $26,000. Stonebridge Financial Group LLC purchased a new stake in Manulife Financial in the fourth quarter valued at approximately $34,000. Golden State Wealth Management LLC purchased a new stake in Manulife Financial in the fourth quarter valued at approximately $35,000. Finally, CKW Financial Group purchased a new stake in Manulife Financial in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. Royal Bank of Canada boosted their target price on Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a research report 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $45.50.

Manulife Financial Stock Down 2.9 %

NYSE:MFC opened at $28.41 on Friday. The company has a fifty day simple moving average of $30.10 and a two-hundred day simple moving average of $30.16. The company has a market cap of $48.93 billion, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a 52 week low of $22.61 and a 52 week high of $33.07.

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

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.3094 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.24 annualized dividend and a dividend yield of 4.36%. Manulife Financial’s payout ratio is 58.45%.

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.