Mackenzie Financial Corp Has $755.37 Million Holdings in Manulife Financial Co. (NYSE:MFC)

Mackenzie Financial Corp raised its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,614,416 shares of the financial services provider's stock after buying an additional 230,105 shares during the period. Manulife Financial accounts for about 1.0% of Mackenzie Financial Corp's portfolio, making the stock its 22nd largest holding. Mackenzie Financial Corp owned about 1.43% of Manulife Financial worth $755,367,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Invst LLC boosted its holdings in Manulife Financial by 12.2% in the 4th quarter. Invst LLC now owns 22,352 shares of the financial services provider's stock valued at $686,000 after purchasing an additional 2,423 shares during the period. WCG Wealth Advisors LLC increased its position in shares of Manulife Financial by 4.5% during the fourth quarter. WCG Wealth Advisors LLC now owns 30,903 shares of the financial services provider's stock worth $949,000 after buying an additional 1,332 shares during the period. Pacific Point Advisors LLC bought a new position in Manulife Financial during the fourth quarter worth $335,000. Vise Technologies Inc. boosted its stake in Manulife Financial by 33.9% during the fourth quarter. Vise Technologies Inc. now owns 59,714 shares of the financial services provider's stock worth $1,834,000 after acquiring an additional 15,105 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Manulife Financial by 103.3% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,162,597 shares of the financial services provider's stock worth $35,670,000 after acquiring an additional 590,644 shares in the last quarter. 52.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MFC. Morgan Stanley set a $46.00 price objective on shares of Manulife Financial in a report on Monday, May 19th. Royal Bank of Canada boosted their price target on Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Manulife Financial in a research report on Monday, February 3rd. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $45.67.

Manulife Financial Trading Up 0.7%

MFC stock traded up $0.21 during trading on Thursday, reaching $31.72. 555,630 shares of the stock were exchanged, compared to its average volume of 2,407,231. Manulife Financial Co. has a 1 year low of $23.30 and a 1 year high of $33.07. The firm has a market capitalization of $54.32 billion, a price-to-earnings ratio of 15.32, a P/E/G ratio of 1.11 and a beta of 1.00. The business has a 50 day moving average price of $30.33 and a 200-day moving average price of $30.58.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its earnings results on Wednesday, May 7th. The financial services provider reported $0.69 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.01). Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The firm had revenue of $1.49 billion during the quarter. During the same period in the previous year, the business earned $0.94 EPS. On average, research analysts anticipate that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Wednesday, May 21st will be paid a $0.3194 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.03%. 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%.

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.