Baird Financial Group Inc. Acquires 10,370 Shares of Manulife Financial Co. (NYSE:MFC)

Baird Financial Group Inc. lifted its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 17.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,980 shares of the financial services provider’s stock after buying an additional 10,370 shares during the period. Baird Financial Group Inc.’s holdings in Manulife Financial were worth $2,149,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Ancora Advisors LLC increased its holdings in shares of Manulife Financial by 34.7% in the 4th quarter. Ancora Advisors LLC now owns 1,943 shares of the financial services provider’s stock worth $60,000 after buying an additional 500 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in Manulife Financial by 12.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 35,996 shares of the financial services provider’s stock valued at $1,105,000 after purchasing an additional 4,112 shares during the last quarter. Rehmann Capital Advisory Group grew its holdings in Manulife Financial by 9.2% during the 4th quarter. Rehmann Capital Advisory Group now owns 7,566 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 635 shares during the last quarter. Triumph Capital Management grew its holdings in Manulife Financial by 16.0% during the 4th quarter. Triumph Capital Management now owns 13,297 shares of the financial services provider’s stock valued at $408,000 after purchasing an additional 1,833 shares during the last quarter. Finally, Lido Advisors LLC grew its holdings in Manulife Financial by 199.2% during the 4th quarter. Lido Advisors LLC now owns 37,732 shares of the financial services provider’s stock valued at $1,159,000 after purchasing an additional 25,123 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada upped their price target on shares of Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Manulife Financial currently has an average rating of “Buy” and a consensus price target of $45.50.

Manulife Financial Price Performance

Manulife Financial stock opened at $30.90 on Monday. The stock has a market cap of $52.92 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 1.11 and a beta of 1.00. Manulife Financial Co. has a 1 year low of $23.30 and a 1 year high of $33.07. The firm has a 50-day moving average of $29.82 and a two-hundred day moving average of $30.47.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.01). The company had revenue of $1.49 billion during the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. During the same period last year, the business posted $0.94 earnings per share. Research analysts expect that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Wednesday, May 21st will be given a $0.3194 dividend. This represents a $1.28 annualized dividend and a yield of 4.13%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Wednesday, May 21st. Manulife Financial’s payout ratio is 63.35%.

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.