Artemis Investment Management LLP Invests $10.60 Million in Manulife Financial Co. (NYSE:MFC)

Artemis Investment Management LLP acquired a new stake in Manulife Financial Co. (NYSE:MFCGet Rating) (TSE:MFC) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 555,121 shares of the financial services provider’s stock, valued at approximately $10,600,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of MFC. National Bank of Canada FI bought a new stake in Manulife Financial in the 4th quarter valued at $99,316,000. Man Group plc lifted its position in Manulife Financial by 112.5% in the 3rd quarter. Man Group plc now owns 7,912,638 shares of the financial services provider’s stock valued at $152,274,000 after acquiring an additional 4,189,913 shares in the last quarter. CIBC Asset Management Inc increased its stake in Manulife Financial by 19.5% in the 3rd quarter. CIBC Asset Management Inc now owns 17,510,677 shares of the financial services provider’s stock valued at $334,745,000 after buying an additional 2,862,964 shares during the last quarter. AustralianSuper Pty Ltd acquired a new stake in Manulife Financial in the 3rd quarter valued at $59,741,000. Finally, Scheer Rowlett & Associates Investment Management Ltd. acquired a new stake in Manulife Financial in the 3rd quarter valued at $29,924,000. 46.53% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have issued reports on MFC. Scotiabank lifted their price target on shares of Manulife Financial from C$29.00 to C$30.00 in a research note on Friday, February 11th. Barclays began coverage on shares of Manulife Financial in a research note on Thursday, February 3rd. They issued an “overweight” rating and a $36.00 price target on the stock. BMO Capital Markets lifted their price target on shares of Manulife Financial from C$35.00 to C$37.00 in a research note on Friday, February 11th. StockNews.com lowered shares of Manulife Financial from a “buy” rating to a “hold” rating in a research note on Thursday, April 14th. Finally, Zacks Investment Research restated a “hold” rating on shares of Manulife Financial in a research note on Thursday, March 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.27.

Shares of MFC opened at $19.56 on Friday. Manulife Financial Co. has a 52 week low of $17.66 and a 52 week high of $22.19. The firm has a market cap of $37.73 billion, a P/E ratio of 6.89, a price-to-earnings-growth ratio of 0.70 and a beta of 1.25. The firm’s 50-day simple moving average is $20.55 and its 200 day simple moving average is $20.08.

Manulife Financial (NYSE:MFCGet Rating) (TSE:MFC) last announced its quarterly earnings results on Wednesday, February 9th. The financial services provider reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. The company had revenue of $17.14 billion during the quarter. During the same quarter in the prior year, the business posted $0.57 EPS. Analysts anticipate that Manulife Financial Co. will post 2.76 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, March 21st. Investors of record on Wednesday, February 23rd were paid a $0.26 dividend. The ex-dividend date was Tuesday, February 22nd. This represents a $1.04 dividend on an annualized basis and a yield of 5.32%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.23. Manulife Financial’s dividend payout ratio is 36.62%.

Manulife Financial Profile (Get Rating)

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, 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 provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks.

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Institutional Ownership by Quarter for Manulife Financial (NYSE:MFC)

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