Manulife Financial Co. (NYSE:MFC) Position Increased by Intech Investment Management LLC

Intech Investment Management LLC increased its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 37.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,710 shares of the financial services provider’s stock after buying an additional 34,838 shares during the quarter. Intech Investment Management LLC’s holdings in Manulife Financial were worth $3,808,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MFC. Grove Bank & Trust bought a new position in shares of Manulife Financial during the second quarter worth about $25,000. West Financial Advisors LLC acquired a new position in Manulife Financial during the 3rd quarter valued at about $26,000. Addison Advisors LLC grew its position in Manulife Financial by 77.2% in the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 467 shares during the last quarter. HHM Wealth Advisors LLC increased its stake in shares of Manulife Financial by 119.0% in the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 600 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in shares of Manulife Financial during the third quarter valued at approximately $30,000. 52.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MFC has been the topic of several analyst reports. Barclays started coverage on Manulife Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating on the stock. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $37.50.

Manulife Financial Price Performance

MFC opened at $32.47 on Friday. The business has a 50 day moving average price of $30.38 and a two-hundred day moving average price of $27.70. The company has a market capitalization of $56.88 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 1.19 and a beta of 1.08. Manulife Financial Co. has a 1-year low of $19.13 and a 1-year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.30. The business had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same quarter in the prior year, the firm posted $0.69 earnings per share. Equities analysts expect that Manulife Financial Co. will post 2.74 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.296 per share. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, November 20th. This represents a $1.18 annualized dividend and a dividend yield of 3.65%. Manulife Financial’s dividend payout ratio (DPR) is 57.00%.

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.