Manulife Financial Co. (NYSE:MFC) Shares Acquired by Intact Investment Management Inc.

Intact Investment Management Inc. lifted its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 24.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,342,920 shares of the financial services provider’s stock after buying an additional 465,650 shares during the quarter. Manulife Financial makes up about 2.1% of Intact Investment Management Inc.’s investment portfolio, making the stock its 11th largest holding. Intact Investment Management Inc. owned approximately 0.13% of Manulife Financial worth $51,774,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in MFC. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Manulife Financial during the third quarter worth approximately $27,000. Anchor Investment Management LLC acquired a new stake in shares of Manulife Financial during the fourth quarter worth approximately $27,000. Trust Co. of Vermont grew its position in shares of Manulife Financial by 478.5% during the third quarter. Trust Co. of Vermont now owns 1,533 shares of the financial services provider’s stock worth $28,000 after buying an additional 1,268 shares in the last quarter. Arlington Trust Co LLC acquired a new stake in shares of Manulife Financial during the third quarter worth approximately $29,000. Finally, NBC Securities Inc. acquired a new stake in shares of Manulife Financial during the third quarter worth approximately $32,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Trading Up 0.4 %

Manulife Financial stock traded up $0.10 during trading hours on Friday, reaching $23.47. 1,552,896 shares of the company were exchanged, compared to its average volume of 2,294,516. The firm has a market cap of $42.27 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 0.86 and a beta of 1.08. The stock has a 50-day moving average of $24.00 and a 200 day moving average of $21.62. Manulife Financial Co. has a 12 month low of $17.07 and a 12 month high of $25.14.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, February 14th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. The firm had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $7.57 billion. Manulife Financial had a return on equity of 15.98% and a net margin of 10.42%. As a group, research analysts forecast that Manulife Financial Co. will post 2.71 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, February 28th were given a $0.298 dividend. This represents a $1.19 annualized dividend and a dividend yield of 5.08%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.26. The ex-dividend date was Tuesday, February 27th. Manulife Financial’s dividend payout ratio is currently 61.66%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MFC shares. BMO Capital Markets upgraded Manulife Financial from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $31.00 to $35.00 in a research note on Thursday, February 15th. Jefferies Financial Group initiated coverage on Manulife Financial in a report on Thursday, February 22nd. They set a “buy” rating on the stock. Finally, Desjardins raised Manulife Financial from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.33.

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.