American Century Companies Inc. Acquires 138,016 Shares of Manulife Financial Corp $MFC

Key Points

• American Century Companies raised its stake in Manulife by 15.9%, adding 138,016 shares to hold 1,005,673 shares worth about $31.33 million (0.06% of the company).
• Manulife increased its quarterly dividend to $0.485 (annualized $1.94), implying about a 5.8% yield with an ex-dividend date of Feb. 25 and payment on Mar. 19.
• Manulife reported $0.80 EPS for the quarter, beating the $0.76 estimate, and carries an average analyst rating of "Buy" with a $51.50 average target price.

American Century Companies Inc. raised its stake in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 15.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,005,673 shares of the financial services provider's stock after purchasing an additional 138,016 shares during the quarter. American Century Companies Inc. owned 0.06% of Manulife Financial worth $31,333,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in Manulife Financial by 33.9% in the 4th quarter. Brighton Jones LLC now owns 9,393 shares of the financial services provider's stock valued at $288,000 after buying an additional 2,376 shares in the last quarter. AQR Capital Management LLC raised its stake in Manulife Financial by 179.7% during the first quarter. AQR Capital Management LLC now owns 28,362 shares of the financial services provider's stock worth $872,000 after acquiring an additional 18,222 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Manulife Financial by 18.7% during the first quarter. Empowered Funds LLC now owns 56,418 shares of the financial services provider's stock valued at $1,757,000 after acquiring an additional 8,900 shares during the period. Sivia Capital Partners LLC lifted its holdings in shares of Manulife Financial by 13.1% during the second quarter. Sivia Capital Partners LLC now owns 7,843 shares of the financial services provider's stock valued at $251,000 after acquiring an additional 909 shares during the period. Finally, MUFG Securities EMEA plc boosted its stake in shares of Manulife Financial by 814.3% in the 2nd quarter. MUFG Securities EMEA plc now owns 6,399,999 shares of the financial services provider's stock valued at $204,544,000 after purchasing an additional 5,699,999 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors.

Manulife Financial Stock Performance

Shares of NYSE:MFC opened at $33.65 on Friday. Manulife Financial Corp has a twelve month low of $25.92 and a twelve month high of $38.72. The firm has a market cap of $56.42 billion, a PE ratio of 15.16 and a beta of 0.83. The business has a fifty day moving average of $36.75 and a 200-day moving average of $34.26.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.04. Manulife Financial had a net margin of 9.18% and a return on equity of 16.43%. The business had revenue of $11.32 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the prior year, the company earned $1.03 EPS. On average, analysts anticipate that Manulife Financial Corp will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Wednesday, February 25th will be paid a $0.485 dividend. This is a boost from Manulife Financial's previous quarterly dividend of $0.44. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Wednesday, February 25th. Manulife Financial's payout ratio is presently 63.96%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Morgan Stanley set a $51.00 target price on shares of Manulife Financial in a research report on Monday, December 15th. Weiss Ratings lowered shares of Manulife Financial from a "buy (a-)" rating to a "buy (b)" rating in a research report on Friday, February 13th. Canadian Imperial Bank of Commerce raised shares of Manulife Financial from a "neutral" rating to an "outperform" rating in a research note on Thursday, January 8th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Manulife Financial in a report on Friday, November 14th. Finally, Scotiabank reiterated an "outperform" rating on shares of Manulife Financial in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to data from MarketBeat.com, Manulife Financial currently has an average rating of "Buy" and an average target price of $51.50.

Manulife Financial Profile

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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