Manulife Financial Co. (NYSE:MFC) Position Increased by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its stake in Manulife Financial Co. (NYSE:MFCGet Rating) (TSE:MFC) by 36.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,394,396 shares of the financial services provider’s stock after purchasing an additional 372,370 shares during the period. Public Sector Pension Investment Board’s holdings in Manulife Financial were worth $26,615,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in MFC. National Bank of Canada FI bought a new stake in shares of Manulife Financial in the 4th quarter worth approximately $99,316,000. Man Group plc lifted its holdings in shares of Manulife Financial by 112.5% in the 3rd quarter. Man Group plc now owns 7,912,638 shares of the financial services provider’s stock worth $152,274,000 after purchasing an additional 4,189,913 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Manulife Financial by 505.2% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,177,402 shares of the financial services provider’s stock worth $79,682,000 after purchasing an additional 3,487,180 shares during the last quarter. Alberta Investment Management Corp lifted its holdings in shares of Manulife Financial by 79.9% in the 4th quarter. Alberta Investment Management Corp now owns 5,413,134 shares of the financial services provider’s stock worth $103,322,000 after purchasing an additional 2,403,884 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Manulife Financial by 60.4% in the 4th quarter. Allianz Asset Management GmbH now owns 5,902,069 shares of the financial services provider’s stock worth $112,651,000 after purchasing an additional 2,222,293 shares during the last quarter. 47.04% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages recently issued reports on MFC. Barclays assumed coverage on Manulife Financial in a report on Thursday, February 3rd. They issued an “overweight” rating and a $36.00 price target on the stock. Royal Bank of Canada lowered their price target on Manulife Financial from C$29.00 to C$26.00 in a report on Friday, May 13th. Canaccord Genuity Group downgraded shares of Manulife Financial from a “buy” rating to a “hold” rating in a report on Friday, May 13th. Canaccord Genuity Group downgraded shares of Manulife Financial from a “buy” rating to a “hold” rating in a research report on Friday, May 13th. Finally, National Bank Financial decreased their price objective on shares of Manulife Financial from C$28.00 to C$26.00 in a report on Thursday, May 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $29.50.

Shares of NYSE:MFC traded down $0.72 on Tuesday, reaching $17.23. 207,982 shares of the company traded hands, compared to its average volume of 4,555,882. The stock has a market capitalization of $33.16 billion, a PE ratio of 4.83, a P/E/G ratio of 0.68 and a beta of 1.22. The company’s 50 day moving average is $20.09 and its 200-day moving average is $19.91. Manulife Financial Co. has a fifty-two week low of $16.63 and a fifty-two week high of $22.19.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 20th. Stockholders of record on Wednesday, May 25th will be issued a dividend of $0.257 per share. This represents a $1.03 annualized dividend and a dividend yield of 5.97%. The ex-dividend date of this dividend is Tuesday, May 24th. Manulife Financial’s dividend payout ratio is 27.96%.

Manulife Financial Company Profile (Get Rating)

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, 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 provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks.

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Institutional Ownership by Quarter for Manulife Financial (NYSE:MFC)

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