Intech Investment Management LLC Has $11.30 Million Stock Holdings in Manulife Financial Corp $MFC

Intech Investment Management LLC reduced its position in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 29.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 310,843 shares of the financial services provider’s stock after selling 127,080 shares during the period. Intech Investment Management LLC’s holdings in Manulife Financial were worth $11,302,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of MFC. Canerector Inc. lifted its stake in Manulife Financial by 4,445.8% in the 3rd quarter. Canerector Inc. now owns 28,184,000 shares of the financial services provider’s stock valued at $877,932,000 after purchasing an additional 27,564,000 shares during the last quarter. MUFG Securities EMEA plc lifted its stake in Manulife Financial by 814.3% in the 2nd quarter. MUFG Securities EMEA plc now owns 6,399,999 shares of the financial services provider’s stock valued at $204,544,000 after purchasing an additional 5,699,999 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Manulife Financial by 25.6% in the 3rd quarter. Mackenzie Financial Corp now owns 27,822,300 shares of the financial services provider’s stock valued at $866,649,000 after purchasing an additional 5,671,639 shares during the last quarter. Quadrature Capital Ltd lifted its stake in Manulife Financial by 13,155.3% in the 3rd quarter. Quadrature Capital Ltd now owns 4,229,500 shares of the financial services provider’s stock valued at $131,743,000 after purchasing an additional 4,197,592 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake in Manulife Financial by 5.8% in the 3rd quarter. TD Asset Management Inc now owns 37,638,463 shares of the financial services provider’s stock valued at $1,172,922,000 after purchasing an additional 2,079,330 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Stock Down 0.2%

Shares of MFC stock opened at $38.22 on Friday. The firm has a 50 day moving average price of $37.38 and a two-hundred day moving average price of $36.42. The company has a market capitalization of $63.78 billion, a PE ratio of 15.16 and a beta of 0.87. Manulife Financial Corp has a 12-month low of $29.70 and a 12-month high of $40.40.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, May 13th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.02). The company had revenue of $8.89 billion for the quarter, compared to analyst estimates of $2.32 billion. Manulife Financial had a return on equity of 16.58% and a net margin of 10.19%.During the same quarter last year, the business earned $0.99 earnings per share. As a group, research analysts expect that Manulife Financial Corp will post 3.2 EPS for the current year.

Manulife Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, May 29th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, May 29th. This represents a $1.94 annualized dividend and a yield of 5.1%. Manulife Financial’s dividend payout ratio (DPR) is 56.35%.

Analyst Ratings Changes

Several brokerages recently issued reports on MFC. Royal Bank Of Canada reiterated an “outperform” rating on shares of Manulife Financial in a research note on Friday, February 13th. Weiss Ratings upgraded shares of Manulife Financial from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, May 14th. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research note on Wednesday, April 29th. Finally, TD Securities reiterated a “buy” rating on shares of Manulife Financial in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $51.50.

Manulife Financial Profile

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.