AEGON ASSET MANAGEMENT UK Plc Acquires 72,100 Shares of Manulife Financial Co. (NYSE:MFC)

AEGON ASSET MANAGEMENT UK Plc boosted its stake in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 81.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 160,731 shares of the financial services provider's stock after acquiring an additional 72,100 shares during the period. AEGON ASSET MANAGEMENT UK Plc's holdings in Manulife Financial were worth $5,004,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MFC. Norges Bank bought a new stake in shares of Manulife Financial during the 4th quarter valued at $654,751,000. FIL Ltd grew its holdings in Manulife Financial by 21.7% in the fourth quarter. FIL Ltd now owns 39,610,614 shares of the financial services provider's stock worth $1,216,880,000 after purchasing an additional 7,053,066 shares during the period. Geode Capital Management LLC increased its stake in shares of Manulife Financial by 28.7% during the fourth quarter. Geode Capital Management LLC now owns 10,650,598 shares of the financial services provider's stock valued at $333,291,000 after purchasing an additional 2,377,338 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Manulife Financial by 42.1% during the fourth quarter. Canada Pension Plan Investment Board now owns 7,427,745 shares of the financial services provider's stock valued at $227,895,000 after purchasing an additional 2,200,000 shares during the last quarter. Finally, Hillsdale Investment Management Inc. boosted its position in shares of Manulife Financial by 216.0% in the 4th quarter. Hillsdale Investment Management Inc. now owns 2,545,393 shares of the financial services provider's stock worth $78,110,000 after purchasing an additional 1,739,853 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors.

Manulife Financial Stock Performance

Shares of NYSE:MFC traded up $0.10 during midday trading on Thursday, reaching $32.04. 1,154,776 shares of the company's stock traded hands, compared to its average volume of 2,126,360. Manulife Financial Co. has a one year low of $23.30 and a one year high of $33.07. The company has a market cap of $54.88 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 1.11 and a beta of 1.00. The stock has a 50 day moving average of $30.40 and a 200 day moving average of $30.55.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings data 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). Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The company had revenue of $1.49 billion for the quarter. During the same quarter last year, the business posted $0.94 EPS. Sell-side analysts predict that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.3194 per share. 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 dividend yield of 3.99%. The ex-dividend date is Wednesday, May 21st. Manulife Financial's payout ratio is currently 63.87%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MFC shares. Royal Bank of Canada raised their price objective on Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Morgan Stanley set a $46.00 price target on Manulife Financial in a research report on Monday, May 19th. 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 stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $45.67.

About Manulife Financial

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.