Intech Investment Management LLC Increases Stock Holdings in Manulife Financial Corp $MFC

Key Points

• Intech Investment Management LLC increased its holdings in Manulife Financial Corp by 86.0%, owning 203,628 shares valued at $6,344,000 after purchasing an additional 94,177 shares in the first quarter.
• Manulife Financial has received a consensus rating of "Buy" from analysts, with an average target price of $48.50, although recent earnings slightly missed expectations.
• The company announced a dividend increase to $0.3199 per share, reflecting a dividend yield of 4.0% with a payout ratio of 56.70%.

Intech Investment Management LLC raised its stake in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 86.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 203,628 shares of the financial services provider's stock after buying an additional 94,177 shares during the quarter. Intech Investment Management LLC's holdings in Manulife Financial were worth $6,344,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Plato Investment Management Ltd lifted its position in Manulife Financial by 36.7% in the first quarter. Plato Investment Management Ltd now owns 17,260 shares of the financial services provider's stock valued at $544,000 after buying an additional 4,637 shares during the last quarter. Empowered Funds LLC lifted its position 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 worth $1,757,000 after purchasing an additional 8,900 shares in the last quarter. Ascent Group LLC acquired a new stake in shares of Manulife Financial during the first quarter worth about $272,000. United Services Automobile Association lifted its position in shares of Manulife Financial by 0.8% during the first quarter. United Services Automobile Association now owns 60,000 shares of the financial services provider's stock worth $1,848,000 after purchasing an additional 471 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its position in shares of Manulife Financial by 19.1% during the first quarter. Ashton Thomas Private Wealth LLC now owns 143,994 shares of the financial services provider's stock worth $4,485,000 after purchasing an additional 23,132 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company's stock.

Manulife Financial Price Performance

Shares of MFC stock traded up $0.10 during trading hours on Friday, reaching $31.89. 1,038,523 shares of the stock were exchanged, compared to its average volume of 2,091,922. The business's fifty day moving average is $30.68 and its two-hundred day moving average is $30.63. Manulife Financial Corp has a 12-month low of $25.92 and a 12-month high of $33.07. The firm has a market capitalization of $54.04 billion, a P/E ratio of 14.24, a P/E/G ratio of 1.07 and a beta of 0.99.

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 analysts' consensus estimates of $0.71 by ($0.02). Manulife Financial had a return on equity of 15.77% and a net margin of 10.46%.The firm had revenue of $11.30 billion for the quarter. During the same quarter last year, the firm earned $0.91 EPS. As a group, equities research analysts predict 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. Investors of record on Wednesday, August 20th will be paid a dividend of $0.3199 per share. The ex-dividend date is Wednesday, August 20th. This is a positive change from Manulife Financial's previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.0%. Manulife Financial's payout ratio is currently 56.70%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Royal Bank Of Canada reduced their price target on shares of Manulife Financial from $51.00 to $49.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Morgan Stanley set a $48.00 price target on shares of Manulife Financial in a research report on Monday, August 18th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $48.50.

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.