Todd Asset Management LLC Has $845,000 Stake in Manulife Financial Co. (NYSE:MFC)

Todd Asset Management LLC lowered its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,254 shares of the financial services provider’s stock after selling 717 shares during the quarter. Todd Asset Management LLC’s holdings in Manulife Financial were worth $845,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Manulife Financial during the 3rd quarter worth approximately $27,000. Anchor Investment Management LLC bought a new stake in Manulife Financial in the 4th quarter valued at $27,000. Trust Co. of Vermont boosted its stake in Manulife Financial by 478.5% in the 3rd quarter. Trust Co. of Vermont now owns 1,533 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 1,268 shares during the period. NBC Securities Inc. bought a new position in Manulife Financial during the 3rd quarter worth about $32,000. Finally, Goodman Advisory Group LLC acquired a new stake in shares of Manulife Financial in the 4th quarter valued at about $32,000. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Up 1.3 %

Shares of NYSE:MFC traded up $0.31 during midday trading on Friday, hitting $24.01. The stock had a trading volume of 1,168,687 shares, compared to its average volume of 2,751,152. The business’s 50-day simple moving average is $23.93 and its 200-day simple moving average is $21.79. Manulife Financial Co. has a 12 month low of $17.07 and a 12 month high of $25.14. The company has a market cap of $43.25 billion, a P/E ratio of 12.44, a PEG ratio of 0.88 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. The company had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $7.57 billion. Manulife Financial had a net margin of 10.42% and a return on equity of 15.98%. As a group, equities analysts predict that Manulife Financial Co. will post 2.7 earnings per share 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 dividend on an annualized basis and a dividend yield of 4.96%. 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 (DPR) is presently 61.66%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. BMO Capital Markets upgraded Manulife Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $31.00 to $35.00 in a report on Thursday, February 15th. Jefferies Financial Group started coverage on shares of Manulife Financial in a report on Thursday, February 22nd. They issued a “buy” rating on the stock. Finally, Desjardins upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.33.

Manulife Financial Profile

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.