Manulife Financial Co. (NYSE:MFC) Shares Bought by Metis Global Partners LLC

Metis Global Partners LLC increased its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,627 shares of the financial services provider’s stock after acquiring an additional 4,904 shares during the period. Metis Global Partners LLC’s holdings in Manulife Financial were worth $2,446,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. raised its stake in Manulife Financial by 16.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider’s stock valued at $61,426,000 after acquiring an additional 279,418 shares in the last quarter. Sanctuary Advisors LLC raised its stake 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 valued at $2,382,000 after purchasing an additional 43,877 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc lifted its holdings in Manulife Financial by 14.9% in 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 purchasing an additional 11,509 shares during the period. Teachers Retirement System of The State of Kentucky bought a new position in Manulife Financial in the 3rd quarter valued at about $13,318,000. Finally, DRW Securities LLC acquired a new position in Manulife Financial during the 3rd quarter valued at about $1,008,000. 52.56% of the stock is currently owned by institutional investors.

Manulife Financial Stock Up 1.2 %

Shares of NYSE MFC opened at $31.15 on Monday. Manulife Financial Co. has a 52-week low of $22.61 and a 52-week high of $33.07. The stock has a market capitalization of $53.67 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 1.11 and a beta of 1.09. The stock’s fifty day simple moving average is $30.35 and its 200 day simple moving average is $30.02.

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 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. As a group, analysts anticipate that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.3094 per share. The ex-dividend date is Wednesday, March 5th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 3.97%. Manulife Financial’s dividend payout ratio (DPR) is presently 58.45%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MFC. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada boosted their target price on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Manulife Financial has a consensus rating of “Buy” and a consensus price target of $45.50.

About Manulife Financial

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.