GSA Capital Partners LLP bought a new position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,927 shares of the financial services provider’s stock, valued at approximately $222,000.
A number of other hedge funds have also recently modified their holdings of the stock. TD Asset Management Inc. lifted its position in Manulife Financial by 1.6% in the third quarter. TD Asset Management Inc. now owns 59,703,080 shares of the financial services provider’s stock worth $1,208,240,000 after purchasing an additional 927,841 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its position in Manulife Financial by 0.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 52,874,797 shares of the financial services provider’s stock worth $1,074,555,000 after purchasing an additional 152,541 shares during the period. Vanguard Group Inc. lifted its position in Manulife Financial by 4.5% in the second quarter. Vanguard Group Inc. now owns 44,039,248 shares of the financial services provider’s stock worth $826,177,000 after purchasing an additional 1,882,515 shares during the period. Jarislowsky Fraser Ltd lifted its position in Manulife Financial by 0.3% in the third quarter. Jarislowsky Fraser Ltd now owns 34,376,766 shares of the financial services provider’s stock worth $695,701,000 after purchasing an additional 93,166 shares during the period. Finally, CIBC Asset Management Inc lifted its position in Manulife Financial by 1.9% in the third quarter. CIBC Asset Management Inc now owns 22,492,974 shares of the financial services provider’s stock worth $455,052,000 after purchasing an additional 427,684 shares during the period. 46.51% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on the company. Zacks Investment Research raised Manulife Financial from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Tuesday, January 2nd. ValuEngine cut Manulife Financial from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 18th. Finally, Morgan Stanley raised their target price on Manulife Financial from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $25.00.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 19th. Shareholders of record on Tuesday, November 21st were issued a dividend of $0.1606 per share. The ex-dividend date was Monday, November 20th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.95%. Manulife Financial’s payout ratio is presently 45.71%.
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About Manulife Financial
Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.
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