Trustmark National Bank Trust Department Purchases 3,270 Shares of Manulife Financial Co. (NYSE:MFC)

Trustmark National Bank Trust Department raised its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 2.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,905 shares of the financial services provider’s stock after acquiring an additional 3,270 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Manulife Financial were worth $3,573,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MFC. Intech Investment Management LLC increased its holdings in Manulife Financial by 37.1% in the third quarter. Intech Investment Management LLC now owns 128,710 shares of the financial services provider’s stock worth $3,808,000 after purchasing an additional 34,838 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. increased its stake in shares of Manulife Financial by 1.1% in the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,382,077 shares of the financial services provider’s stock valued at $40,841,000 after acquiring an additional 14,469 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its position in shares of Manulife Financial by 2.7% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 67,928 shares of the financial services provider’s stock valued at $2,007,000 after acquiring an additional 1,780 shares during the period. PCJ Investment Counsel Ltd. boosted its stake in Manulife Financial by 9.5% during the third quarter. PCJ Investment Counsel Ltd. now owns 247,211 shares of the financial services provider’s stock worth $7,305,000 after acquiring an additional 21,420 shares in the last quarter. Finally, Commerce Bank increased its stake in Manulife Financial by 24.3% in the third quarter. Commerce Bank now owns 13,696 shares of the financial services provider’s stock valued at $405,000 after purchasing an additional 2,676 shares in the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MFC shares. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Barclays initiated coverage on Manulife Financial in a report on Thursday, September 5th. They issued an “equal weight” rating on the stock. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $37.50.

Manulife Financial Trading Down 0.3 %

MFC stock opened at $32.19 on Thursday. The stock has a market cap of $56.39 billion, a P/E ratio of 15.55, a P/E/G ratio of 1.19 and a beta of 1.08. The stock’s fifty day simple moving average is $30.20 and its two-hundred day simple moving average is $27.58. Manulife Financial Co. has a 1-year low of $18.91 and a 1-year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.30. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The company had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same quarter last year, the business posted $0.69 EPS. As a group, analysts forecast that Manulife Financial Co. will post 2.74 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be issued a $0.296 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.18 annualized dividend and a yield of 3.68%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s dividend payout ratio (DPR) is 56.04%.

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.