Manulife Financial Co. (NYSE:MFC) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC grew its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 9.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 6,343,892 shares of the financial services provider’s stock after purchasing an additional 534,331 shares during the quarter. Hsbc Holdings PLC’s holdings in Manulife Financial were worth $194,803,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MFC. Crews Bank & Trust bought a new stake in Manulife Financial in the 4th quarter valued at about $26,000. Lee Danner & Bass Inc. bought a new stake in shares of Manulife Financial during the fourth quarter valued at approximately $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Manulife Financial during the fourth quarter worth approximately $34,000. Golden State Wealth Management LLC bought a new position in Manulife Financial in the 4th quarter worth approximately $35,000. Finally, CKW Financial Group acquired a new stake in Manulife Financial in the 4th quarter valued at approximately $37,000. Institutional investors own 52.56% of the company’s stock.

Wall Street Analysts Forecast Growth

MFC has been the subject of a number of analyst reports. 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. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Manulife Financial has an average rating of “Buy” and an average price target of $45.50.

Manulife Financial Stock Performance

Shares of NYSE MFC opened at $29.21 on Wednesday. Manulife Financial Co. has a 1 year low of $22.96 and a 1 year high of $33.07. The firm has a market cap of $50.18 billion, a P/E ratio of 14.11, a PEG ratio of 1.11 and a beta of 0.89. The stock has a fifty day moving average price of $29.70 and a two-hundred day moving average price of $30.41.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.07. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The business had revenue of $9.31 billion during the quarter. On average, research analysts predict that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a $0.3094 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date was Wednesday, March 5th. Manulife Financial’s payout ratio is presently 58.45%.

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.