Intact Investment Management Inc. Has $78.78 Million Stock Holdings in Manulife Financial Corp (NYSE:MFC)

Intact Investment Management Inc. lifted its position in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 17.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,527,925 shares of the financial services provider's stock after purchasing an additional 370,570 shares during the period. Manulife Financial comprises about 2.7% of Intact Investment Management Inc.'s portfolio, making the stock its 3rd biggest holding. Intact Investment Management Inc. owned about 0.15% of Manulife Financial worth $78,780,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Lee Danner & Bass Inc. acquired a new position in Manulife Financial in the 4th quarter valued at about $31,000. Lazard Asset Management LLC acquired a new stake in shares of Manulife Financial during the fourth quarter valued at about $35,000. Transce3nd LLC acquired a new position in shares of Manulife Financial in the 4th quarter worth approximately $42,000. Millstone Evans Group LLC acquired a new position in Manulife Financial during the fourth quarter worth $44,000. Finally, Addison Advisors LLC grew its stake in shares of Manulife Financial by 45.9% in the fourth quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider's stock valued at $44,000 after buying an additional 449 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley set a $46.00 price objective on shares of Manulife Financial in a research report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $45.67.

Manulife Financial Stock Performance

NYSE:MFC traded up $0.22 during mid-day trading on Tuesday, reaching $31.53. The stock had a trading volume of 2,009,471 shares, compared to its average volume of 2,146,191. The business has a 50 day simple moving average of $31.04 and a 200 day simple moving average of $30.46. 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 $53.85 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 1.07 and a beta of 1.01.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released 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 return on equity of 15.84% and a net margin of 9.58%. The company had revenue of $1.49 billion during the quarter. During the same period last year, the business posted $0.94 earnings per share. As a group, sell-side analysts expect that Manulife Financial Corp will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Wednesday, May 21st were given a dividend of $0.3194 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend was Wednesday, May 21st. This is a positive change from Manulife Financial's previous quarterly dividend of $0.31. Manulife Financial's payout ratio is 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.