Allspring Global Investments Holdings LLC Has $13.90 Million Stock Holdings in Manulife Financial Corp (NYSE:MFC)

Allspring Global Investments Holdings LLC increased its stake in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 4.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 437,523 shares of the financial services provider's stock after buying an additional 16,873 shares during the period. Allspring Global Investments Holdings LLC's holdings in Manulife Financial were worth $13,896,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FIL Ltd lifted its position in shares of Manulife Financial by 21.7% during 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 in the last quarter. TD Asset Management Inc. raised its position in Manulife Financial by 0.7% in the 4th quarter. TD Asset Management Inc. now owns 34,803,859 shares of the financial services provider's stock worth $1,068,654,000 after purchasing an additional 228,863 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in Manulife Financial by 0.9% during the 4th quarter. Mackenzie Financial Corp now owns 24,614,416 shares of the financial services provider's stock worth $755,367,000 after buying an additional 230,105 shares in the last quarter. Toronto Dominion Bank lifted its holdings in Manulife Financial by 4.1% during the 4th quarter. Toronto Dominion Bank now owns 22,812,909 shares of the financial services provider's stock worth $699,948,000 after buying an additional 902,466 shares in the last quarter. Finally, Norges Bank bought a new position in Manulife Financial in the 4th quarter valued at $654,751,000. Institutional investors and hedge funds own 52.56% of the company's stock.

Analyst Upgrades and Downgrades

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

Manulife Financial Stock Up 0.5%

NYSE MFC traded up $0.17 during trading hours on Thursday, hitting $31.62. The company's stock had a trading volume of 936,889 shares, compared to its average volume of 2,168,203. Manulife Financial Corp has a twelve month low of $23.30 and a twelve month high of $33.07. The firm has a market capitalization of $54.01 billion, a P/E ratio of 16.56, a PEG ratio of 1.09 and a beta of 0.99. The stock has a fifty day moving average of $31.44 and a 200 day moving average of $30.49.

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). Manulife Financial had a net margin of 9.58% and a return on equity of 15.84%. The company had revenue of $1.49 billion during the quarter. During the same quarter in the prior year, the business posted $0.94 earnings per share. On average, analysts predict that Manulife Financial Corp will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Wednesday, May 21st were paid a $0.3194 dividend. This is a positive change 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 yield of 4.04%. Manulife Financial's dividend payout ratio is presently 67.02%.

Manulife Financial Company 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.