Lansforsakringar Fondforvaltning AB publ Buys Shares of 380,011 Manulife Financial Co. (NYSE:MFC)

Lansforsakringar Fondforvaltning AB publ acquired a new stake in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 380,011 shares of the financial services provider's stock, valued at approximately $11,663,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Little House Capital LLC lifted its stake in Manulife Financial by 1.0% in the fourth quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider's stock valued at $1,037,000 after buying an additional 331 shares during the last quarter. Robertson Stephens Wealth Management LLC raised its stake in shares of Manulife Financial by 1.5% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 23,068 shares of the financial services provider's stock worth $708,000 after purchasing an additional 339 shares during the last quarter. Erste Asset Management GmbH raised its stake in shares of Manulife Financial by 0.6% during the fourth quarter. Erste Asset Management GmbH now owns 69,300 shares of the financial services provider's stock worth $2,133,000 after purchasing an additional 400 shares during the last quarter. TIAA Trust National Association raised its stake in shares of Manulife Financial by 5.0% during the fourth quarter. TIAA Trust National Association now owns 8,419 shares of the financial services provider's stock worth $259,000 after purchasing an additional 404 shares during the last quarter. Finally, Addison Advisors LLC raised its stake in shares of Manulife Financial by 45.9% during the fourth quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider's stock worth $44,000 after purchasing an additional 449 shares during the last quarter. Hedge funds and other institutional investors own 52.56% of the company's stock.

Analyst Ratings Changes

MFC has been the subject of several analyst reports. Royal Bank of Canada upped their price target on Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. Morgan Stanley set a $46.00 price target on Manulife Financial in a research note on Monday, May 19th. Finally, Scotiabank restated an "outperform" rating on shares of Manulife Financial in a research note on Monday, February 3rd. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Manulife Financial presently has an average rating of "Buy" and an average target price of $45.67.

Manulife Financial Stock Up 0.3%

MFC stock traded up $0.10 on Monday, reaching $31.94. 1,533,033 shares of the company's stock were exchanged, compared to its average volume of 2,133,191. The stock has a fifty day moving average of $30.36 and a 200-day moving average of $30.53. Manulife Financial Co. has a twelve month low of $23.30 and a twelve month high of $33.07. The firm has a market cap of $54.71 billion, a PE ratio of 15.43, a P/E/G ratio of 1.11 and a beta of 1.00.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings data 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 15.98% and a net margin of 10.08%. The business had revenue of $1.49 billion for the quarter. During the same quarter in the previous year, the company earned $0.94 earnings per share. On average, equities research analysts predict that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Wednesday, May 21st will be issued a dividend of $0.3194 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Wednesday, May 21st. This is a positive change from Manulife Financial's previous quarterly dividend of $0.31. Manulife Financial's dividend payout ratio is currently 63.87%.

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.