Intech Investment Management LLC Grows Stake in Manulife Financial Co. (NYSE:MFC)

Intech Investment Management LLC lifted its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 37.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,710 shares of the financial services provider’s stock after buying an additional 34,838 shares during the period. Intech Investment Management LLC’s holdings in Manulife Financial were worth $3,808,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MFC. 1832 Asset Management L.P. grew its holdings in Manulife Financial by 34.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 19,723,609 shares of the financial services provider’s stock valued at $525,042,000 after purchasing an additional 5,036,716 shares in the last quarter. Acadian Asset Management LLC boosted its position in Manulife Financial by 288.4% in the 2nd quarter. Acadian Asset Management LLC now owns 3,943,509 shares of the financial services provider’s stock valued at $104,966,000 after buying an additional 2,928,316 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of Manulife Financial during the second quarter valued at about $35,806,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Manulife Financial by 1,210.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,161,059 shares of the financial services provider’s stock worth $30,922,000 after acquiring an additional 1,072,474 shares during the last quarter. Finally, Toronto Dominion Bank boosted its holdings in Manulife Financial by 3.2% in the second quarter. Toronto Dominion Bank now owns 24,057,503 shares of the financial services provider’s stock valued at $640,411,000 after purchasing an additional 750,422 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Down 0.6 %

Shares of NYSE MFC opened at $32.47 on Friday. The stock’s 50 day moving average price is $30.38 and its two-hundred day moving average price is $27.70. Manulife Financial Co. has a 52-week low of $19.13 and a 52-week high of $33.07. The stock has a market capitalization of $56.88 billion, a P/E ratio of 15.69, a PEG ratio of 1.19 and a beta of 1.08.

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 for the quarter, beating analysts’ consensus estimates of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The business had revenue of $10.69 billion during the quarter, compared to the consensus estimate of $9.73 billion. During the same period in the previous year, the business earned $0.69 EPS. On average, analysts anticipate that Manulife Financial Co. will post 2.74 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $0.296 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.65%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, November 20th. Manulife Financial’s dividend payout ratio is 57.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MFC shares. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Barclays started coverage on shares of Manulife Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating for the company. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Manulife Financial currently has a consensus rating of “Buy” and an average target price of $37.50.

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.