Healthcare of Ontario Pension Plan Trust Fund Boosts Stock Position in Manulife Financial Co. (NYSE:MFC)

Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 858.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 848,579 shares of the financial services provider’s stock after acquiring an additional 760,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Manulife Financial were worth $16,315,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Harvest Fund Management Co. Ltd purchased a new stake in shares of Manulife Financial in the second quarter worth $29,000. Carolinas Wealth Consulting LLC increased its stake in Manulife Financial by 126.8% in the second quarter. Carolinas Wealth Consulting LLC now owns 1,735 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 970 shares during the last quarter. Strategic Blueprint LLC bought a new position in Manulife Financial in the second quarter valued at $35,000. Sargent Bickham Lagudis LLC increased its stake in Manulife Financial by 41.0% in the third quarter. Sargent Bickham Lagudis LLC now owns 1,856 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 540 shares during the last quarter. Finally, Carderock Capital Management Inc. bought a new position in Manulife Financial in the third quarter valued at $37,000. Institutional investors own 46.54% of the company’s stock.

NYSE MFC opened at $20.70 on Friday. Manulife Financial Co. has a 1 year low of $17.66 and a 1 year high of $22.25. The business’s 50-day moving average is $19.25 and its 200 day moving average is $19.46. The stock has a market capitalization of $40.21 billion, a PE ratio of 7.64, a PEG ratio of 0.74 and a beta of 1.33.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, November 3rd. The financial services provider reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.05). The business had revenue of $12.69 billion for the quarter. As a group, equities analysts anticipate that Manulife Financial Co. will post 2.59 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 20th. Shareholders of record on Wednesday, December 1st were issued a $0.226 dividend. The ex-dividend date was Tuesday, November 30th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.22. This represents a $0.90 annualized dividend and a yield of 4.37%. Manulife Financial’s dividend payout ratio (DPR) is 38.01%.

MFC has been the topic of a number of research analyst reports. TD Securities increased their target price on Manulife Financial from C$36.00 to C$37.00 and gave the company a “buy” rating in a research note on Tuesday, November 16th. CIBC cut Manulife Financial from a “neutral” rating to a “sector underperform” rating in a research note on Thursday, December 16th. National Bank Financial increased their target price on Manulife Financial from C$27.00 to C$28.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 17th. Credit Suisse Group raised their price objective on Manulife Financial from C$26.00 to C$28.00 and gave the company a “neutral” rating in a research note on Tuesday, November 16th. Finally, Scotiabank raised their price objective on Manulife Financial from C$28.00 to C$30.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Manulife Financial presently has an average rating of “Hold” and an average price target of $29.50.

Manulife Financial Company Profile

Manulife Financial Corp. engages in the provision of financial services. It operates through the following segments: Asia, Canada, U.S., Global Wealth and Asset Management, and Corporate and Other. The Asia segment refers to insurance and insurance-based wealth accumulation products in Asia. The Canada segment offers insurance-based wealth accumulation products and banking services in Canada.

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Institutional Ownership by Quarter for Manulife Financial (NYSE:MFC)

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