Parallel Advisors LLC grew its position in Manulife Financial Co. (NYSE:MFC – Get Rating) (TSE:MFC) by 39.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,849 shares of the financial services provider’s stock after buying an additional 1,375 shares during the period. Parallel Advisors LLC’s holdings in Manulife Financial were worth $87,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Todd Asset Management LLC grew its holdings in shares of Manulife Financial by 1.2% in the 4th quarter. Todd Asset Management LLC now owns 48,686 shares of the financial services provider’s stock valued at $869,000 after buying an additional 585 shares during the period. Brinker Capital Investments LLC increased its holdings in Manulife Financial by 5.3% during the 1st quarter. Brinker Capital Investments LLC now owns 12,449 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 624 shares in the last quarter. Comerica Bank increased its holdings in Manulife Financial by 1.1% during the 4th quarter. Comerica Bank now owns 61,304 shares of the financial services provider’s stock worth $1,166,000 after purchasing an additional 690 shares in the last quarter. JCIC Asset Management Inc. increased its holdings in Manulife Financial by 16.7% during the 3rd quarter. JCIC Asset Management Inc. now owns 5,800 shares of the financial services provider’s stock worth $96,000 after purchasing an additional 830 shares in the last quarter. Finally, Baird Financial Group Inc. increased its holdings in Manulife Financial by 7.7% during the 3rd quarter. Baird Financial Group Inc. now owns 11,716 shares of the financial services provider’s stock worth $184,000 after purchasing an additional 836 shares in the last quarter. Institutional investors and hedge funds own 43.42% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on MFC shares. TD Securities increased their target price on Manulife Financial from C$30.00 to C$32.00 in a report on Thursday, February 16th. StockNews.com started coverage on Manulife Financial in a report on Thursday, March 16th. They set a “hold” rating for the company. Desjardins increased their target price on Manulife Financial from C$26.00 to C$28.00 in a report on Friday, February 17th. Credit Suisse Group initiated coverage on Manulife Financial in a report on Thursday, January 12th. They set a “neutral” rating for the company. Finally, CIBC raised their price objective on Manulife Financial from C$23.00 to C$27.00 in a report on Wednesday, January 25th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $29.29.
Manulife Financial Price Performance
Manulife Financial (NYSE:MFC – Get Rating) (TSE:MFC) last issued its earnings results on Wednesday, February 15th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.04. The firm had revenue of $11.34 billion during the quarter. On average, sell-side analysts expect that Manulife Financial Co. will post 2.39 EPS for the current year.
Manulife Financial Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 20th. Investors of record on Tuesday, February 28th were paid a $0.274 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.24. This represents a $1.10 annualized dividend and a yield of 5.59%. The ex-dividend date of this dividend was Monday, February 27th. Manulife Financial’s dividend payout ratio (DPR) is 38.65%.
Manulife Financial Company Profile
Manulife Financial Corp. engages in the provision of financial services. It operates through the following segments: Asia, Canada, U.S., Global Wealth and Asset Management, and Corporate and Other. The Asia segment refers to insurance and insurance-based wealth accumulation products in Asia. The Canada segment offers insurance-based wealth accumulation products and banking services in Canada.
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