Squarepoint Ops LLC Buys New Shares in Manulife Financial Co. (NYSE:MFC)

Squarepoint Ops LLC bought a new stake in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 10,518 shares of the financial services provider's stock, valued at approximately $323,000.

Other hedge funds have also recently bought and sold shares of the company. Lee Danner & Bass Inc. acquired a new stake in Manulife Financial during the fourth quarter worth approximately $31,000. Stonebridge Financial Group LLC acquired a new stake in Manulife Financial during the fourth quarter worth approximately $34,000. Golden State Wealth Management LLC acquired a new stake in Manulife Financial during the fourth quarter worth approximately $35,000. Lazard Asset Management LLC acquired a new stake in shares of Manulife Financial in the fourth quarter valued at approximately $35,000. Finally, Mather Group LLC. acquired a new stake in shares of Manulife Financial in the fourth quarter valued at approximately $42,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Price Performance

NYSE:MFC traded down $0.30 during mid-day trading on Tuesday, reaching $32.04. The stock had a trading volume of 1,406,670 shares, compared to its average volume of 2,133,298. The stock has a 50-day simple moving average of $30.46 and a two-hundred day simple moving average of $30.53. The stock has a market capitalization of $54.87 billion, a PE ratio of 15.48, a P/E/G ratio of 1.11 and a beta of 1.01. Manulife Financial Co. has a 12 month low of $23.30 and a 12 month high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its earnings results 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 company had revenue of $1.49 billion for the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. During the same quarter in the previous year, the firm posted $0.94 earnings per share. Equities analysts expect that Manulife Financial Co. will post 2.87 EPS for the current 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 paid a $0.3194 dividend. This is a boost from Manulife Financial's previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $1.28 annualized dividend and a dividend yield of 3.99%. Manulife Financial's payout ratio is currently 66.49%.

Analysts Set New Price Targets

MFC has been the subject of a number of analyst reports. Royal Bank of Canada lifted their price target on shares of Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Morgan Stanley set a $46.00 price target on shares of Manulife Financial in a research report on Monday, May 19th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $45.67.

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.