QS Investors LLC lifted its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 201.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,608 shares of the financial services provider’s stock after acquiring an additional 11,100 shares during the quarter. QS Investors LLC’s holdings in Manulife Financial were worth $236,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in MFC. Morgan Stanley grew its position in Manulife Financial by 15.1% during the third quarter. Morgan Stanley now owns 2,568,231 shares of the financial services provider’s stock valued at $45,919,000 after buying an additional 336,398 shares during the period. Weather Gauge Advisory LLC bought a new position in shares of Manulife Financial in the fourth quarter worth approximately $1,132,000. Endurance Wealth Management Inc. boosted its position in shares of Manulife Financial by 7.0% in the fourth quarter. Endurance Wealth Management Inc. now owns 340,398 shares of the financial services provider’s stock worth $4,830,000 after purchasing an additional 22,150 shares during the period. Janus Henderson Group PLC boosted its position in shares of Manulife Financial by 62.9% in the third quarter. Janus Henderson Group PLC now owns 5,862,471 shares of the financial services provider’s stock worth $104,791,000 after purchasing an additional 2,263,264 shares during the period. Finally, BB&T Corp boosted its position in shares of Manulife Financial by 5.5% in the fourth quarter. BB&T Corp now owns 79,501 shares of the financial services provider’s stock worth $1,128,000 after purchasing an additional 4,121 shares during the period. Hedge funds and other institutional investors own 48.42% of the company’s stock.
Shares of MFC traded up $0.04 during mid-day trading on Monday, reaching $18.18. The stock had a trading volume of 1,174,700 shares, compared to its average volume of 2,144,968. The firm has a market cap of $38.27 billion, a P/E ratio of 8.62, a PEG ratio of 0.82 and a beta of 1.37. Manulife Financial Co. has a 12 month low of $13.33 and a 12 month high of $19.63.
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, February 27th were issued a $0.1883 dividend. This represents a $0.75 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend was Tuesday, February 26th. Manulife Financial’s dividend payout ratio (DPR) is presently 36.02%.
MFC has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of Manulife Financial from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. Barclays reiterated a “buy” rating on shares of Manulife Financial in a research report on Thursday, January 10th. Finally, Zacks Investment Research upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $24.33.
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Manulife Financial Company Profile
Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.
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