Intech Investment Management LLC Has $6.34 Million 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 increased its stake in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 86.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 203,628 shares of the financial services provider's stock after purchasing an additional 94,177 shares during the period. Intech Investment Management LLC's holdings in Manulife Financial were worth $6,344,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Lazard Asset Management LLC bought a new position in shares of Manulife Financial during the fourth quarter worth $35,000. William B. Walkup & Associates Inc. purchased a new position in Manulife Financial in the first quarter valued at about $43,000. NBC Securities Inc. grew its position in shares of Manulife Financial by 178,700.0% in the 1st quarter. NBC Securities Inc. now owns 1,788 shares of the financial services provider's stock worth $55,000 after buying an additional 1,787 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in Manulife Financial in the 1st quarter worth approximately $59,000. Finally, Alpine Bank Wealth Management acquired a new stake in Manulife Financial in the 1st quarter worth approximately $71,000. 52.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Manulife Financial Trading Down 0.9%

MFC traded down $0.28 during midday trading on Wednesday, hitting $31.21. The company's stock had a trading volume of 551,835 shares, compared to its average volume of 2,284,830. The firm has a market cap of $52.89 billion, a P/E ratio of 13.94, a PEG ratio of 1.08 and a beta of 0.99. The firm has a 50-day moving average price of $30.73 and a two-hundred day moving average price of $30.65. Manulife Financial Corp has a 52-week low of $25.92 and a 52-week high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its quarterly earnings data 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 prior year, the company earned $0.91 earnings per share. On average, equities analysts expect that Manulife Financial Corp will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Wednesday, August 20th will be paid a $0.3199 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This is a positive change from Manulife Financial's previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a dividend yield of 4.1%. Manulife Financial's dividend payout ratio (DPR) is currently 56.70%.

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.