Squarepoint Ops LLC Purchases New Holdings in Manulife Financial Co. (NYSE:MFC)

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

A number of other institutional investors and hedge funds also recently modified their holdings of MFC. Lee Danner & Bass Inc. purchased a new stake in shares of Manulife Financial during the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC purchased a new stake in Manulife Financial in the fourth quarter worth $34,000. Golden State Wealth Management LLC purchased a new stake in Manulife Financial in the fourth quarter worth $35,000. Lazard Asset Management LLC purchased a new stake in Manulife Financial in the 4th quarter worth about $35,000. Finally, Transce3nd LLC purchased a new stake in Manulife Financial in the 4th quarter worth about $42,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MFC has been the subject of several recent research reports. Royal Bank of Canada lifted their target price on shares of 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 target price on shares of Manulife Financial in a research note on Monday, May 19th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $45.67.

Manulife Financial Stock Up 1.2%

MFC stock opened at $32.44 on Friday. The firm has a market capitalization of $55.56 billion, a PE ratio of 15.67, a PEG ratio of 1.11 and a beta of 1.00. Manulife Financial Co. has a twelve month low of $23.30 and a twelve month high of $33.07. The stock has a 50-day simple moving average of $30.43 and a two-hundred day simple moving average of $30.55.

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 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.01). Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The firm had revenue of $1.49 billion for the quarter. During the same period in the prior year, the company posted $0.94 earnings per share. On average, equities research analysts anticipate that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Wednesday, May 21st will be issued a $0.3194 dividend. The ex-dividend date is Wednesday, May 21st. This is a positive change from Manulife Financial's previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a yield of 3.94%. Manulife Financial's dividend payout ratio (DPR) 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.

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