Lincluden Management Ltd. increased its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 2.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,295,406 shares of the financial services provider’s stock after buying an additional 88,290 shares during the period. Manulife Financial comprises approximately 4.9% of Lincluden Management Ltd.’s holdings, making the stock its 6th largest position. Lincluden Management Ltd. owned 0.17% of Manulife Financial worth $70,429,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its holdings in Manulife Financial by 5.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 89,023 shares of the financial services provider’s stock worth $1,807,000 after buying an additional 4,956 shares during the period. TD Asset Management Inc. boosted its holdings in shares of Manulife Financial by 1.6% during the 3rd quarter. TD Asset Management Inc. now owns 59,703,080 shares of the financial services provider’s stock valued at $1,208,240,000 after purchasing an additional 927,841 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Manulife Financial by 121.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,796,263 shares of the financial services provider’s stock valued at $58,330,000 after purchasing an additional 1,531,905 shares during the last quarter. Independent Advisor Alliance bought a new position in shares of Manulife Financial during the 3rd quarter valued at about $379,000. Finally, BancorpSouth Bank bought a new position in shares of Manulife Financial during the 4th quarter valued at about $2,302,000. 46.60% of the stock is owned by institutional investors.
Shares of Manulife Financial Co. (MFC) opened at $18.55 on Tuesday. The stock has a market cap of $37,012.04, a PE ratio of 25.07, a PEG ratio of 0.95 and a beta of 1.33. Manulife Financial Co. has a 1 year low of $16.62 and a 1 year high of $22.16.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 19th. Investors of record on Wednesday, February 21st were given a $0.175 dividend. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.16. This represents a $0.70 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend was Tuesday, February 20th. Manulife Financial’s dividend payout ratio is 94.59%.
Several research firms have commented on MFC. ValuEngine raised shares of Manulife Financial from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Zacks Investment Research cut shares of Manulife Financial from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Morgan Stanley decreased their target price on shares of Manulife Financial from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 22nd. Scotiabank restated a “buy” rating and set a $31.00 target price on shares of Manulife Financial in a research report on Wednesday, January 31st. Finally, National Bank Financial upgraded shares of Manulife Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 24th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Manulife Financial currently has a consensus rating of “Buy” and a consensus target price of $27.00.
Manulife Financial Company Profile
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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