Dimensional Fund Advisors LP Raises Stake in Manulife Financial Corp $MFC

Key Points

• Dimensional Fund Advisors LP increased its stake in Manulife Financial Corp by 2.0%, bringing its total holdings to approximately $216.87 million in value.
• Manulife Financial recently declared a quarterly dividend of $0.3199 per share, increasing its annual dividend yield to 4.2%.
• After reporting earnings of $0.69 per share, Manulife missed the consensus estimate, which was $0.71 per share.

Dimensional Fund Advisors LP increased its stake in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 2.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,962,345 shares of the financial services provider's stock after acquiring an additional 136,947 shares during the period. Dimensional Fund Advisors LP owned about 0.41% of Manulife Financial worth $216,870,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kovitz Investment Group Partners LLC grew its holdings in Manulife Financial by 2.9% in the first quarter. Kovitz Investment Group Partners LLC now owns 34,661 shares of the financial services provider's stock valued at $1,080,000 after purchasing an additional 987 shares during the period. William B. Walkup & Associates Inc. acquired a new stake in Manulife Financial in the first quarter valued at approximately $43,000. GQG Partners LLC grew its holdings in Manulife Financial by 2.3% in the first quarter. GQG Partners LLC now owns 117,100 shares of the financial services provider's stock valued at $3,648,000 after purchasing an additional 2,597 shares during the period. Gulf International Bank UK Ltd grew its holdings in Manulife Financial by 2,604.9% in the first quarter. Gulf International Bank UK Ltd now owns 98,647 shares of the financial services provider's stock valued at $3,073,000 after purchasing an additional 95,000 shares during the period. Finally, Prudential PLC grew its holdings in Manulife Financial by 27.3% in the first quarter. Prudential PLC now owns 58,479 shares of the financial services provider's stock valued at $1,822,000 after purchasing an additional 12,524 shares during the period. 52.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Royal Bank Of Canada dropped their price objective on Manulife Financial from $51.00 to $49.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Morgan Stanley set a $48.00 price objective on Manulife Financial in a report on Monday, August 18th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Manulife Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.50.

Manulife Financial Stock Up 2.2%

Shares of NYSE MFC traded up $0.6650 during midday trading on Friday, hitting $30.7250. The stock had a trading volume of 1,586,158 shares, compared to its average volume of 2,601,139. The company has a market capitalization of $52.19 billion, a PE ratio of 13.72, a P/E/G ratio of 1.03 and a beta of 1.01. The stock has a 50 day simple moving average of $30.87 and a 200-day simple moving average of $30.57. Manulife Financial Corp has a 1 year low of $25.92 and a 1 year high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its earnings results on Wednesday, August 6th. The financial services provider reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.02). The firm had revenue of $11.30 billion during the quarter. Manulife Financial had a net margin of 10.46% and a return on equity of 15.77%. During the same quarter in the previous year, the business posted $0.91 EPS. As a group, analysts expect that Manulife Financial Corp will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Wednesday, August 20th will be given a $0.3199 dividend. This represents a $1.28 annualized dividend and a dividend yield of 4.2%. This is a boost from Manulife Financial's previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, August 20th. Manulife Financial's dividend payout ratio (DPR) is 56.70%.

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.