Manulife Financial Co. (NYSE:MFC) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 28.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,650,598 shares of the financial services provider’s stock after acquiring an additional 2,377,338 shares during the period. Geode Capital Management LLC owned about 0.62% of Manulife Financial worth $333,291,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MFC. Crews Bank & Trust acquired a new position in Manulife Financial during the fourth quarter worth $26,000. Lee Danner & Bass Inc. purchased a new stake in shares of Manulife Financial in the fourth quarter valued at about $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Manulife Financial in the fourth quarter valued at approximately $34,000. Golden State Wealth Management LLC purchased a new position in shares of Manulife Financial during the 4th quarter worth approximately $35,000. Finally, CKW Financial Group acquired a new position in shares of Manulife Financial during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MFC shares. Royal Bank of Canada raised their price target on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. One 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 stock currently has an average rating of “Buy” and a consensus price target of $45.50.

Manulife Financial Stock Down 9.3 %

Shares of Manulife Financial stock opened at $27.79 on Friday. Manulife Financial Co. has a fifty-two week low of $22.61 and a fifty-two week high of $33.07. The business’s fifty day moving average is $30.16 and its two-hundred day moving average is $30.50. The firm has a market cap of $47.87 billion, a PE ratio of 13.43, a P/E/G ratio of 1.11 and a beta of 0.89.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 research analysts anticipate that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently declared 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. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, March 5th. This represents a $1.24 annualized dividend and a yield of 4.45%. Manulife Financial’s dividend 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.