West Family Investments Inc. Increases Stock Holdings in Manulife Financial Co. (NYSE:MFC)

West Family Investments Inc. increased its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 8.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,593 shares of the financial services provider’s stock after buying an additional 1,340 shares during the period. West Family Investments Inc.’s holdings in Manulife Financial were worth $520,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Manulife Financial by 1.0% during the first quarter. Vanguard Group Inc. now owns 72,289,251 shares of the financial services provider’s stock worth $1,806,508,000 after purchasing an additional 727,764 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of Manulife Financial by 3.2% during the 2nd quarter. Toronto Dominion Bank now owns 24,057,503 shares of the financial services provider’s stock worth $640,411,000 after buying an additional 750,422 shares during the last quarter. 1832 Asset Management L.P. raised its position in shares of Manulife Financial by 34.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 19,723,609 shares of the financial services provider’s stock worth $525,042,000 after buying an additional 5,036,716 shares during the period. Legal & General Group Plc boosted its holdings in Manulife Financial by 0.5% in the second quarter. Legal & General Group Plc now owns 14,783,400 shares of the financial services provider’s stock valued at $393,592,000 after acquiring an additional 75,244 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Manulife Financial by 12.5% during the first quarter. Canada Pension Plan Investment Board now owns 5,474,062 shares of the financial services provider’s stock valued at $136,846,000 after acquiring an additional 606,712 shares during the period. 52.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Manulife Financial Price Performance

MFC opened at $31.61 on Tuesday. The company has a market capitalization of $55.38 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 1.19 and a beta of 1.08. The business has a 50-day moving average of $30.01 and a 200-day moving average of $27.49. Manulife Financial Co. has a fifty-two week low of $18.91 and a fifty-two week high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.30. The business had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same quarter in the previous year, the firm earned $0.69 EPS. On average, equities research analysts expect 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. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.296 per share. This represents a $1.18 annualized dividend and a yield of 3.75%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial’s dividend payout ratio is currently 56.04%.

About Manulife Financial

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.