Allspring Global Investments Holdings LLC Acquires 16,873 Shares of Manulife Financial Corp (NYSE:MFC)

Allspring Global Investments Holdings LLC raised its holdings in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 4.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 437,523 shares of the financial services provider's stock after acquiring an additional 16,873 shares during the period. Allspring Global Investments Holdings LLC's holdings in Manulife Financial were worth $13,896,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Lee Danner & Bass Inc. bought a new position in shares of Manulife Financial during the fourth quarter worth about $31,000. Lazard Asset Management LLC acquired a new position in shares of Manulife Financial during the 4th quarter worth about $35,000. Transce3nd LLC bought a new position in shares of Manulife Financial in the 4th quarter valued at about $42,000. Millstone Evans Group LLC acquired a new position in shares of Manulife Financial during the 4th quarter worth approximately $44,000. Finally, Graney & King LLC bought a new position in shares of Manulife Financial in the fourth quarter valued at $53,000. 52.56% of the stock is owned by institutional investors.

Manulife Financial Trading Up 0.5%

NYSE:MFC traded up $0.17 on Friday, hitting $31.62. The company's stock had a trading volume of 936,889 shares, compared to its average volume of 2,175,415. Manulife Financial Corp has a one year low of $23.30 and a one year high of $33.07. The firm has a market capitalization of $54.01 billion, a P/E ratio of 16.56, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99. The stock has a fifty day moving average of $31.50 and a two-hundred day moving average of $30.51.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its quarterly 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 net margin of 9.58% and a return on equity of 15.84%. During the same quarter in the previous year, the business posted $0.94 EPS. As a group, sell-side analysts anticipate that Manulife Financial Corp will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Wednesday, May 21st were given a $0.3194 dividend. This is an increase from Manulife Financial's previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $1.28 annualized dividend and a dividend yield of 4.04%. Manulife Financial's dividend payout ratio is presently 66.49%.

Analysts Set New Price Targets

Separately, Morgan Stanley set a $46.00 price target on shares of Manulife Financial in a research note on Monday, May 19th.

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.