Baird Financial Group Inc. Has $2.15 Million Holdings in Manulife Financial Co. (NYSE:MFC)

Baird Financial Group Inc. raised its position in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 17.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,980 shares of the financial services provider's stock after purchasing an additional 10,370 shares during the quarter. Baird Financial Group Inc.'s holdings in Manulife Financial were worth $2,149,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MFC. Crews Bank & Trust bought a new position in Manulife Financial in the fourth quarter valued at about $26,000. Lee Danner & Bass Inc. bought a new position in Manulife Financial in the fourth quarter valued at about $31,000. Stonebridge Financial Group LLC bought a new position in Manulife Financial in the fourth quarter valued at about $34,000. Golden State Wealth Management LLC bought a new position in Manulife Financial in the fourth quarter valued at about $35,000. Finally, CKW Financial Group bought a new position in Manulife Financial in the fourth quarter valued at about $37,000. 52.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Manulife Financial Stock Performance

Shares of MFC traded down $0.11 during mid-day trading on Wednesday, reaching $31.64. 2,861,829 shares of the company were exchanged, compared to its average volume of 2,167,045. Manulife Financial Co. has a 52 week low of $23.30 and a 52 week high of $33.07. The stock has a market capitalization of $54.19 billion, a PE ratio of 15.29, a PEG ratio of 1.11 and a beta of 1.00. The business has a 50 day simple moving average of $29.90 and a two-hundred day simple moving average of $30.49.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its earnings results on Wednesday, May 7th. The financial services provider reported $0.69 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.01). The business had revenue of $1.49 billion during the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. During the same period in the prior year, the firm posted $0.94 EPS. On average, analysts predict that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Wednesday, May 21st will be issued a $0.3194 dividend. This is an increase from Manulife Financial's previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Wednesday, May 21st. Manulife Financial's payout ratio is presently 63.87%.

Manulife Financial 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.