Manulife Financial Co. (NYSE:MFC) Shares Purchased by Napatree Capital LLC

Napatree Capital LLC increased its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 5.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,814 shares of the financial services provider’s stock after purchasing an additional 536 shares during the period. Napatree Capital LLC’s holdings in Manulife Financial were worth $301,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MFC. National Bank of Canada FI increased its position in Manulife Financial by 13.5% during the third quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider’s stock worth $829,374,000 after purchasing an additional 3,329,892 shares during the last quarter. Hillsdale Investment Management Inc. boosted its stake in Manulife Financial by 216.0% during the fourth quarter. Hillsdale Investment Management Inc. now owns 2,545,393 shares of the financial services provider’s stock worth $78,110,000 after buying an additional 1,739,853 shares during the period. Bridgewater Associates LP boosted its stake in Manulife Financial by 169.6% during the third quarter. Bridgewater Associates LP now owns 1,404,481 shares of the financial services provider’s stock worth $41,554,000 after buying an additional 883,624 shares during the period. Assenagon Asset Management S.A. boosted its stake in Manulife Financial by 1,067.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 686,418 shares of the financial services provider’s stock worth $21,080,000 after buying an additional 627,614 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Manulife Financial by 8.1% during the third quarter. Geode Capital Management LLC now owns 8,273,260 shares of the financial services provider’s stock worth $247,473,000 after buying an additional 616,517 shares during the period. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Stock Performance

NYSE MFC opened at $30.45 on Friday. The firm has a 50 day simple moving average of $30.05 and a 200-day simple moving average of $30.29. Manulife Financial Co. has a one year low of $22.61 and a one year high of $33.07. The firm has a market cap of $52.45 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 1.11 and a beta of 1.05.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.67 by $0.07. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The business had revenue of $9.31 billion during the quarter. Equities analysts predict that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.3094 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a yield of 4.06%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s payout ratio is currently 58.45%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MFC shares. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada increased their target price on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $45.50.

Manulife Financial Company 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.