Manulife Financial Co. (NYSE:MFC) Shares Acquired by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board increased its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 86.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 126,429 shares of the financial services provider’s stock after buying an additional 58,501 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Manulife Financial were worth $3,879,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new stake in shares of Manulife Financial during the 4th quarter valued at about $26,000. Lee Danner & Bass Inc. acquired a new stake in Manulife Financial in the 4th quarter valued at $31,000. Stonebridge Financial Group LLC purchased a new stake in Manulife Financial in the 4th quarter worth $34,000. Golden State Wealth Management LLC acquired a new position in Manulife Financial during the fourth quarter worth $35,000. Finally, CKW Financial Group purchased a new position in Manulife Financial during the fourth quarter valued at $37,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Up 2.7 %

Shares of NYSE:MFC opened at $28.80 on Tuesday. Manulife Financial Co. has a 52-week low of $22.61 and a 52-week high of $33.07. The business has a fifty day moving average of $29.83 and a two-hundred day moving average of $30.46. The stock has a market cap of $49.49 billion, a P/E ratio of 13.91, a PEG ratio of 1.11 and a beta of 0.89.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data 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. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The firm had revenue of $9.31 billion during the quarter. On average, equities 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 was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.3094 dividend. This represents a $1.24 annualized dividend and a yield of 4.30%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, March 5th. Manulife Financial’s dividend payout ratio is presently 58.45%.

Analyst Ratings Changes

Several equities research analysts have commented on MFC shares. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada boosted 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 research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $45.50.

Manulife Financial Profile

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.