Intech Investment Management LLC Acquires 141,255 Shares of Manulife Financial Corp $MFC

Intech Investment Management LLC boosted its holdings in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 47.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 437,923 shares of the financial services provider’s stock after purchasing an additional 141,255 shares during the quarter. Intech Investment Management LLC’s holdings in Manulife Financial were worth $13,647,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. TD Asset Management Inc increased its holdings in shares of 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 worth $1,172,922,000 after buying an additional 2,079,330 shares during the last quarter. Jacobson & Schmitt Advisors LLC bought a new stake in Manulife Financial during the third quarter worth approximately $307,000. Colonial Trust Co SC raised its position in Manulife Financial by 49.4% during the third quarter. Colonial Trust Co SC now owns 4,027 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 1,331 shares during the period. Compound Planning Inc. lifted its stake in shares of Manulife Financial by 7.3% in the 3rd quarter. Compound Planning Inc. now owns 27,670 shares of the financial services provider’s stock valued at $862,000 after purchasing an additional 1,882 shares during the last quarter. Finally, Clearstead Trust LLC boosted its holdings in shares of Manulife Financial by 144.4% in the 3rd quarter. Clearstead Trust LLC now owns 1,256 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 742 shares during the period. 52.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on MFC. Morgan Stanley set a $51.00 price target on Manulife Financial in a report on Monday, December 15th. BMO Capital Markets reiterated an “outperform” rating on shares of Manulife Financial in a research report on Friday, November 14th. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research note on Thursday, February 5th. Weiss Ratings cut shares of Manulife Financial from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, February 13th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Manulife Financial in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. Based on data from MarketBeat, Manulife Financial presently has a consensus rating of “Buy” and a consensus price target of $51.50.

Manulife Financial Stock Up 1.3%

MFC stock opened at $35.85 on Friday. Manulife Financial Corp has a twelve month low of $25.92 and a twelve month high of $38.72. The firm has a market cap of $60.11 billion, a price-to-earnings ratio of 16.15 and a beta of 0.83. The business’s fifty day simple moving average is $36.98 and its two-hundred day simple moving average is $34.06.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. The firm had revenue of $11.32 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Manulife Financial had a net margin of 9.18% and a return on equity of 16.43%. During the same period in the prior year, the business posted $1.03 earnings per share. Research analysts expect that Manulife Financial Corp will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Wednesday, February 25th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.4%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Wednesday, February 25th. Manulife Financial’s dividend payout ratio is 63.51%.

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.