USS Investment Management Ltd Has $14.44 Million Stock Holdings in Manulife Financial Co. (NYSE:MFC)

USS Investment Management Ltd decreased its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 21.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 469,967 shares of the financial services provider’s stock after selling 125,167 shares during the period. USS Investment Management Ltd’s holdings in Manulife Financial were worth $14,436,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Little House Capital LLC boosted its position in Manulife Financial by 1.0% during the fourth quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider’s stock valued at $1,037,000 after purchasing an additional 331 shares during the last quarter. Robertson Stephens Wealth Management LLC boosted its holdings in shares of Manulife Financial by 1.5% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 23,068 shares of the financial services provider’s stock valued at $708,000 after buying an additional 339 shares during the last quarter. Erste Asset Management GmbH boosted its holdings in shares of Manulife Financial by 0.6% in the 4th quarter. Erste Asset Management GmbH now owns 69,300 shares of the financial services provider’s stock valued at $2,133,000 after buying an additional 400 shares during the last quarter. TIAA Trust National Association grew its stake in shares of Manulife Financial by 5.0% in the fourth quarter. TIAA Trust National Association now owns 8,419 shares of the financial services provider’s stock valued at $259,000 after buying an additional 404 shares in the last quarter. Finally, Addison Advisors LLC increased its holdings in Manulife Financial by 45.9% during the fourth quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider’s stock worth $44,000 after buying an additional 449 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Royal Bank of Canada upped their price target on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $45.50.

Manulife Financial Trading Down 0.7%

Shares of NYSE MFC opened at $31.83 on Wednesday. The company has a market capitalization of $54.52 billion, a P/E ratio of 15.38, a P/E/G ratio of 1.11 and a beta of 1.00. Manulife Financial Co. has a 12 month low of $23.30 and a 12 month high of $33.07. The stock has a 50 day moving average of $30.20 and a 200-day moving average of $30.56.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.01). Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The business had revenue of $1.49 billion for the quarter. During the same period last year, the company earned $0.94 earnings per share. Analysts predict that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $0.3194 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Wednesday, May 21st. This is a boost from Manulife Financial’s previous quarterly dividend of $0.31. Manulife Financial’s dividend payout ratio (DPR) is currently 63.87%.

Manulife Financial Company 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.