Jefferies Financial Group Inc. bought a new stake in shares of Manulife Financial Corp (NYSE:MFC – Free Report) (TSE:MFC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 481,400 shares of the financial services provider’s stock, valued at approximately $17,465,000.
Several other hedge funds have also modified their holdings of the stock. Hoge Financial Services LLC lifted its holdings in shares of Manulife Financial by 0.9% during the fourth quarter. Hoge Financial Services LLC now owns 31,975 shares of the financial services provider’s stock valued at $1,160,000 after purchasing an additional 272 shares during the last quarter. Kathmere Capital Management LLC raised its position in Manulife Financial by 2.0% during the fourth quarter. Kathmere Capital Management LLC now owns 14,421 shares of the financial services provider’s stock valued at $523,000 after buying an additional 277 shares during the period. Americana Partners LLC raised its position in Manulife Financial by 0.5% during the fourth quarter. Americana Partners LLC now owns 59,081 shares of the financial services provider’s stock valued at $2,143,000 after buying an additional 295 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Manulife Financial by 1.2% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,206 shares of the financial services provider’s stock valued at $987,000 after buying an additional 329 shares during the period. Finally, Bridgewater Advisors Inc. raised its position in Manulife Financial by 4.3% during the third quarter. Bridgewater Advisors Inc. now owns 8,203 shares of the financial services provider’s stock valued at $272,000 after buying an additional 337 shares during the period. 52.56% of the stock is owned by hedge funds and other institutional investors.
Manulife Financial Trading Up 0.1%
NYSE:MFC opened at $38.56 on Monday. Manulife Financial Corp has a 1-year low of $29.70 and a 1-year high of $40.40. The business’s fifty day moving average price is $36.93 and its 200 day moving average price is $36.25. The firm has a market capitalization of $64.35 billion, a price-to-earnings ratio of 15.30 and a beta of 0.87.
Manulife Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, May 29th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Friday, May 29th. Manulife Financial’s dividend payout ratio is presently 56.35%.
Analyst Ratings Changes
Several research firms recently weighed in on MFC. Weiss Ratings raised Manulife Financial from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, May 14th. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research report on Wednesday, April 29th. TD Securities reissued a “buy” rating on shares of Manulife Financial in a research report on Thursday, May 14th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Manulife Financial in a research report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $51.50.
Get Our Latest Analysis on Manulife Financial
About Manulife Financial
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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