Lombard Odier Asset Management Europe Ltd Increases Stock Holdings in Manulife Financial Corp $MFC

Lombard Odier Asset Management Europe Ltd increased its holdings in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 760.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 687,972 shares of the financial services provider’s stock after purchasing an additional 607,972 shares during the period. Manulife Financial accounts for 1.2% of Lombard Odier Asset Management Europe Ltd’s investment portfolio, making the stock its 16th biggest position. Lombard Odier Asset Management Europe Ltd’s holdings in Manulife Financial were worth $25,038,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Hoge Financial Services LLC grew its position in shares of Manulife Financial by 0.9% in the fourth quarter. Hoge Financial Services LLC now owns 31,975 shares of the financial services provider’s stock valued at $1,160,000 after purchasing an additional 272 shares during the period. Kathmere Capital Management LLC grew its position in shares of Manulife Financial by 2.0% in the fourth quarter. Kathmere Capital Management LLC now owns 14,421 shares of the financial services provider’s stock valued at $523,000 after purchasing an additional 277 shares during the period. Americana Partners LLC grew its position in shares of Manulife Financial by 0.5% in the fourth quarter. Americana Partners LLC now owns 59,081 shares of the financial services provider’s stock valued at $2,143,000 after purchasing an additional 295 shares during the period. Bridges Investment Management Inc. boosted its holdings in Manulife Financial by 2.0% in the fourth quarter. Bridges Investment Management Inc. now owns 16,037 shares of the financial services provider’s stock valued at $582,000 after acquiring an additional 321 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Manulife Financial by 1.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,206 shares of the financial services provider’s stock valued at $987,000 after acquiring an additional 329 shares during the last quarter. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Analyst Ratings Changes

MFC has been the topic of a number of research analyst reports. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a report on Wednesday, April 29th. Weiss Ratings upgraded Manulife Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, May 28th. Finally, TD Securities reiterated a “buy” rating on shares of Manulife Financial in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, Manulife Financial has a consensus rating of “Buy” and an average target price of $51.50.

Manulife Financial Price Performance

Shares of MFC opened at $41.09 on Wednesday. The stock’s 50-day moving average is $38.55 and its two-hundred day moving average is $36.85. The stock has a market cap of $68.58 billion, a PE ratio of 16.31 and a beta of 0.84. Manulife Financial Corp has a 12 month low of $29.70 and a 12 month high of $41.43.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, May 13th. The financial services provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates 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 in the prior year, the firm earned $0.99 EPS. On average, research analysts anticipate that Manulife Financial Corp will post 3.2 earnings per share for the current year.

Manulife Financial Announces Dividend

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 paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Friday, May 29th. Manulife Financial’s payout ratio is currently 56.35%.

Manulife Financial Company 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.