Manulife Financial Co. (NYSE:MFC) Shares Purchased by Dixon Mitchell Investment Counsel Inc.

Dixon Mitchell Investment Counsel Inc. grew its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 8.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 550,226 shares of the financial services provider’s stock after buying an additional 40,748 shares during the quarter. Dixon Mitchell Investment Counsel Inc.’s holdings in Manulife Financial were worth $16,279,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in MFC. Indiana Trust & Investment Management CO lifted its position in Manulife Financial by 22.2% in the second quarter. Indiana Trust & Investment Management CO now owns 2,540 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 462 shares during the period. Addison Advisors LLC lifted its holdings in shares of Manulife Financial by 77.2% in the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock valued at $29,000 after buying an additional 467 shares during the period. First Affirmative Financial Network boosted its stake in Manulife Financial by 4.5% during the first quarter. First Affirmative Financial Network now owns 11,086 shares of the financial services provider’s stock valued at $277,000 after buying an additional 482 shares in the last quarter. LRI Investments LLC grew its holdings in Manulife Financial by 8.6% during the second quarter. LRI Investments LLC now owns 6,819 shares of the financial services provider’s stock worth $182,000 after acquiring an additional 542 shares during the period. Finally, Janiczek Wealth Management LLC raised its position in Manulife Financial by 36.5% in the first quarter. Janiczek Wealth Management LLC now owns 2,088 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 558 shares in the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Barclays initiated coverage on Manulife Financial in a report on Thursday, September 5th. They issued an “equal weight” rating on the stock. Finally, TD Securities raised their price objective on Manulife Financial from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Manulife Financial currently has a consensus rating of “Buy” and a consensus target price of $35.67.

Manulife Financial Stock Performance

Shares of NYSE:MFC opened at $30.50 on Friday. Manulife Financial Co. has a 52 week low of $17.07 and a 52 week high of $30.86. The company has a market cap of $54.58 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 1.09 and a beta of 1.08. The firm has a 50 day simple moving average of $28.26 and a 200 day simple moving average of $26.38.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.64 by $0.27. The business had revenue of $9.41 billion during the quarter, compared to analysts’ expectations of $8.95 billion. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. During the same quarter last year, the firm posted $0.62 earnings per share. On average, equities analysts predict that Manulife Financial Co. will post 2.73 earnings per share for the current year.

Manulife Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st were issued a $0.29 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.80%. Manulife Financial’s dividend payout ratio is 66.86%.

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.