Northwest & Ethical Investments L.P. Buys 36,539 Shares of Manulife Financial Co. (NYSE:MFC)

Northwest & Ethical Investments L.P. raised its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 488,364 shares of the financial services provider’s stock after purchasing an additional 36,539 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Manulife Financial were worth $14,976,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. raised its position in shares of Manulife Financial by 16.4% during the third quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider’s stock worth $61,426,000 after acquiring an additional 279,418 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Manulife Financial by 148.9% in 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. Dorsey & Whitney Trust CO LLC bought a new stake in shares of Manulife Financial in the fourth quarter valued at about $330,000. AEGON ASSET MANAGEMENT UK Plc lifted its holdings in shares of 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 valued at $2,719,000 after purchasing an additional 11,509 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Manulife Financial by 4.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,809,774 shares of the financial services provider’s stock worth $55,578,000 after acquiring an additional 81,799 shares in the last quarter. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Trading Up 1.6 %

Manulife Financial stock opened at $30.51 on Thursday. Manulife Financial Co. has a 12 month low of $22.61 and a 12 month high of $33.07. The business’s 50 day simple moving average is $30.04 and its 200 day simple moving average is $30.25. The company has a market cap of $52.56 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 1.11 and a beta of 1.05.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.07. The firm had revenue of $9.31 billion for the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. As a group, equities research analysts forecast that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.3094 per share. 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 dividend yield of 4.06%. The ex-dividend date was Wednesday, March 5th. Manulife Financial’s dividend payout ratio is currently 58.45%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada increased 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. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price 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.