TD Asset Management Inc. Decreases Stake in Manulife Financial Co. (NYSE:MFC)

TD Asset Management Inc. reduced its stake in Manulife Financial Co. (NYSE:MFCGet Rating) (TSE:MFC) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,872,183 shares of the financial services provider’s stock after selling 982,884 shares during the period. TD Asset Management Inc.’s holdings in Manulife Financial were worth $646,525,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA increased its stake in Manulife Financial by 0.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 12,213,095 shares of the financial services provider’s stock worth $232,904,000 after purchasing an additional 49,144 shares during the period. Aviva PLC increased its stake in Manulife Financial by 2.1% in the 4th quarter. Aviva PLC now owns 607,856 shares of the financial services provider’s stock worth $11,580,000 after purchasing an additional 12,584 shares during the period. Coastline Trust Co increased its stake in Manulife Financial by 3.3% in the 4th quarter. Coastline Trust Co now owns 58,370 shares of the financial services provider’s stock worth $1,113,000 after purchasing an additional 1,870 shares during the period. HighTower Advisors LLC increased its stake in Manulife Financial by 4.6% in the 4th quarter. HighTower Advisors LLC now owns 63,219 shares of the financial services provider’s stock worth $1,207,000 after purchasing an additional 2,756 shares during the period. Finally, Scheer Rowlett & Associates Investment Management Ltd. increased its stake in shares of Manulife Financial by 11.3% during the fourth quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,732,210 shares of the financial services provider’s stock valued at $33,041,000 after buying an additional 175,710 shares during the period. 47.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE MFC traded up $0.11 during mid-day trading on Tuesday, hitting $18.96. 5,075,135 shares of the stock traded hands, compared to its average volume of 4,261,223. The stock has a fifty day moving average price of $20.44 and a 200-day moving average price of $20.05. Manulife Financial Co. has a 52 week low of $17.66 and a 52 week high of $22.19. The company has a market cap of $36.57 billion, a price-to-earnings ratio of 6.68, a PEG ratio of 0.70 and a beta of 1.22.

Manulife Financial (NYSE:MFCGet Rating) (TSE:MFC) last released its earnings results on Wednesday, February 9th. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.65 by $0.02. The company had revenue of $17.14 billion during the quarter. During the same quarter last year, the business earned $0.57 earnings per share. Analysts forecast that Manulife Financial Co. will post 2.75 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, March 21st. Shareholders of record on Wednesday, February 23rd were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 5.49%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Tuesday, February 22nd. Manulife Financial’s payout ratio is 36.62%.

Several equities analysts have recently issued reports on the company. StockNews.com raised Manulife Financial from a “hold” rating to a “buy” rating in a research note on Monday. Scotiabank reduced their target price on Manulife Financial from C$30.00 to C$28.00 in a research note on Monday, May 2nd. Zacks Investment Research reissued a “hold” rating on shares of Manulife Financial in a research note on Thursday, March 17th. Desjardins boosted their target price on Manulife Financial from C$29.00 to C$30.00 in a research note on Monday, February 14th. Finally, BMO Capital Markets boosted their target price on Manulife Financial from C$35.00 to C$37.00 in a research note on Friday, February 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $30.40.

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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