Manulife Financial Co. (NYSE:MFC) Position Increased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 103.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,162,597 shares of the financial services provider's stock after acquiring an additional 590,644 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.07% of Manulife Financial worth $35,670,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MFC. FIL Ltd boosted its position in shares of Manulife Financial by 21.7% in the 4th quarter. FIL Ltd now owns 39,610,614 shares of the financial services provider's stock worth $1,216,880,000 after buying an additional 7,053,066 shares in the last quarter. TD Asset Management Inc. raised its position in Manulife Financial by 0.7% during the fourth quarter. TD Asset Management Inc. now owns 34,803,859 shares of the financial services provider's stock worth $1,068,654,000 after acquiring an additional 228,863 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Manulife Financial by 4.1% in the fourth quarter. Toronto Dominion Bank now owns 22,812,909 shares of the financial services provider's stock valued at $699,948,000 after purchasing an additional 902,466 shares in the last quarter. Norges Bank acquired a new position in shares of Manulife Financial during the 4th quarter worth approximately $654,751,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Manulife Financial by 1.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,334,413 shares of the financial services provider's stock worth $347,757,000 after purchasing an additional 190,738 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company's stock.

Manulife Financial Stock Performance

Shares of MFC traded up $0.27 during trading hours on Monday, hitting $31.21. The stock had a trading volume of 1,162,044 shares, compared to its average volume of 2,147,963. The firm has a market cap of $53.45 billion, a P/E ratio of 15.08, a P/E/G ratio of 1.11 and a beta of 1.00. Manulife Financial Co. has a 12-month low of $23.30 and a 12-month high of $33.07. The company's fifty day simple moving average is $30.27 and its 200 day simple moving average is $30.57.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued 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). The business had revenue of $1.49 billion for the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. During the same period in the previous year, the business posted $0.94 EPS. As a group, sell-side analysts predict that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.3194 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.09%. 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 payout ratio is 63.87%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Morgan Stanley set a $46.00 target price on shares of Manulife Financial in a research report on Monday, May 19th. Royal Bank of Canada raised 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. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Manulife Financial in a research note on Monday, February 3rd. One investment 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.com, the stock has a consensus rating of "Buy" and an average price target of $45.67.

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.