Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Manulife Financial Corp (NYSE:MFC – Free Report) (TSE:MFC) by 931.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,124,519 shares of the financial services provider’s stock after acquiring an additional 3,724,519 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.25% of Manulife Financial worth $149,778,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in MFC. Canerector Inc. grew its holdings in Manulife Financial by 4,445.8% in the 3rd quarter. Canerector Inc. now owns 28,184,000 shares of the financial services provider’s stock valued at $877,932,000 after buying an additional 27,564,000 shares in the last quarter. Norges Bank acquired a new position in Manulife Financial in the 4th quarter valued at $777,229,000. MUFG Securities EMEA plc grew its holdings in Manulife Financial by 814.3% in the 2nd quarter. MUFG Securities EMEA plc now owns 6,399,999 shares of the financial services provider’s stock valued at $204,544,000 after buying an additional 5,699,999 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Manulife Financial by 25.6% in the 3rd quarter. Mackenzie Financial Corp now owns 27,822,300 shares of the financial services provider’s stock valued at $866,649,000 after buying an additional 5,671,639 shares in the last quarter. Finally, Quadrature Capital Ltd grew its holdings in Manulife Financial by 13,155.3% in the 3rd quarter. Quadrature Capital Ltd now owns 4,229,500 shares of the financial services provider’s stock valued at $131,743,000 after buying an additional 4,197,592 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors.
Manulife Financial Stock Performance
MFC opened at $40.25 on Friday. The firm has a market cap of $67.16 billion, a P/E ratio of 15.97 and a beta of 0.84. Manulife Financial Corp has a 52-week low of $29.70 and a 52-week high of $40.47. The business’s fifty day moving average is $38.31 and its 200-day moving average is $36.76.
Manulife Financial Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, May 29th. Manulife Financial’s dividend payout ratio is 56.35%.
Wall Street Analyst Weigh In
A number of research analysts have commented on the company. Weiss Ratings raised Manulife Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, May 28th. TD Securities reaffirmed a “buy” rating on shares of Manulife Financial in a report on Thursday, May 14th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $51.50.
Read Our Latest Analysis on MFC
Manulife Financial Company Profile
Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.
In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.
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