Intech Investment Management LLC Raises Holdings in Manulife Financial Corp $MFC

Intech Investment Management LLC raised its stake in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 45.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 296,668 shares of the financial services provider’s stock after purchasing an additional 93,040 shares during the period. Intech Investment Management LLC’s holdings in Manulife Financial were worth $9,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in MFC. Vanguard Group Inc. raised its holdings in Manulife Financial by 0.5% in the first quarter. Vanguard Group Inc. now owns 74,333,649 shares of the financial services provider’s stock valued at $2,316,162,000 after acquiring an additional 369,638 shares in the last quarter. TD Asset Management Inc increased its position in shares of Manulife Financial by 6.6% in the 1st quarter. TD Asset Management Inc now owns 37,093,064 shares of the financial services provider’s stock valued at $1,155,639,000 after purchasing an additional 2,289,205 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Manulife Financial by 7.3% in the 1st quarter. 1832 Asset Management L.P. now owns 24,425,465 shares of the financial services provider’s stock valued at $760,853,000 after purchasing an additional 1,660,626 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Manulife Financial by 19.4% during the 2nd quarter. Geode Capital Management LLC now owns 14,008,595 shares of the financial services provider’s stock worth $453,798,000 after purchasing an additional 2,276,251 shares during the last quarter. Finally, Bank of Nova Scotia grew its stake in shares of Manulife Financial by 7.2% during the first quarter. Bank of Nova Scotia now owns 13,990,810 shares of the financial services provider’s stock worth $436,007,000 after purchasing an additional 937,794 shares in the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Stock Performance

Shares of NYSE:MFC opened at $34.39 on Friday. Manulife Financial Corp has a one year low of $25.92 and a one year high of $35.57. The stock has a market capitalization of $57.95 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 1.13 and a beta of 0.98. The company has a 50-day simple moving average of $32.12 and a 200-day simple moving average of $31.45.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, November 12th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.10. The firm had revenue of $12.90 billion for the quarter. Manulife Financial had a return on equity of 15.77% and a net margin of 10.46%.During the same period in the prior year, the business earned $1.00 EPS. As a group, research analysts forecast that Manulife Financial Corp 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 Friday, December 19th. Stockholders of record on Wednesday, November 26th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.32. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.1%. Manulife Financial’s dividend payout ratio is presently 55.56%.

Analyst Ratings Changes

A number of analysts have weighed in on MFC shares. Royal Bank Of Canada raised their price target on Manulife Financial from $49.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday. Morgan Stanley set a $47.00 price objective on Manulife Financial in a report on Tuesday, October 7th. UBS Group began coverage on Manulife Financial in a research note on Thursday, October 16th. They set a “buy” rating for the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of Manulife Financial in a report on Friday. Finally, Weiss Ratings reiterated a “buy (a-)” rating on shares of Manulife Financial in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $49.50.

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.