Manulife Financial Co. (NYSE:MFC) Shares Purchased by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. boosted its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 69.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,675,176 shares of the financial services provider’s stock after buying an additional 1,096,933 shares during the period. Manulife Financial comprises 3.0% of Mufg Securities Canada LTD.’s portfolio, making the stock its 13th biggest holding. Mufg Securities Canada LTD.’s holdings in Manulife Financial were worth $82,130,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MFC. Franklin Resources Inc. increased its position in shares of Manulife Financial by 16.4% during the third quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider’s stock worth $61,426,000 after purchasing an additional 279,418 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Manulife Financial by 148.9% during the third quarter. Sanctuary Advisors LLC now owns 73,346 shares of the financial services provider’s stock worth $2,382,000 after buying an additional 43,877 shares in the last quarter. Dorsey & Whitney Trust CO LLC purchased a new position in shares of Manulife Financial in the fourth quarter worth about $330,000. AEGON ASSET MANAGEMENT UK Plc boosted its position in Manulife Financial by 14.9% during the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 88,631 shares of the financial services provider’s stock worth $2,719,000 after acquiring an additional 11,509 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Manulife Financial by 4.7% during the 4th 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 acquiring an additional 81,799 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Performance

Shares of Manulife Financial stock opened at $31.43 on Wednesday. The stock has a 50 day moving average of $30.12 and a 200 day moving average of $30.37. The firm has a market capitalization of $54.14 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a fifty-two week low of $22.61 and a fifty-two week high of $33.07.

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

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.3094 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.94%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s dividend payout ratio (DPR) is presently 58.45%.

Analysts Set New Price Targets

MFC has been the subject of several recent research reports. Royal Bank of Canada increased their price target on Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $45.50.

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.