Todd Asset Management LLC Buys 188,166 Shares of Manulife Financial Corp (NYSE:MFC)

Key Points

• Todd Asset Management LLC increased its stake in Manulife Financial Corp by 19.2%, owning 1,170,403 shares valued at approximately $36.46 million as of its latest SEC filing.
• Manulife Financial reported a Q2 earnings per share of $0.69, missing analysts’ estimates by $0.02, while its revenue reached $11.3 billion.
• The company announced a quarterly dividend of $0.3199 per share, marking an increase from the previous dividend and yielding 4.3% annually.

Todd Asset Management LLC grew its holdings in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 19.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,170,403 shares of the financial services provider's stock after buying an additional 188,166 shares during the period. Todd Asset Management LLC owned 0.07% of Manulife Financial worth $36,458,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MFC. Lazard Asset Management LLC acquired a new position in shares of Manulife Financial during the fourth quarter valued at approximately $35,000. Transce3nd LLC acquired a new position in shares of Manulife Financial during the fourth quarter valued at approximately $42,000. NBC Securities Inc. increased its stake in shares of Manulife Financial by 178,700.0% during the first quarter. NBC Securities Inc. now owns 1,788 shares of the financial services provider's stock valued at $55,000 after acquiring an additional 1,787 shares during the period. Opal Wealth Advisors LLC acquired a new position in Manulife Financial in the first quarter worth approximately $59,000. Finally, Ancora Advisors LLC grew its position in Manulife Financial by 34.7% in the fourth quarter. Ancora Advisors LLC now owns 1,943 shares of the financial services provider's stock worth $60,000 after buying an additional 500 shares during the last quarter. Institutional investors own 52.56% of the company's stock.

Manulife Financial Price Performance

Shares of Manulife Financial stock traded up $0.34 during trading on Wednesday, hitting $30.49. 5,811,971 shares of the company's stock traded hands, compared to its average volume of 1,948,021. The company has a market cap of $51.79 billion, a PE ratio of 13.61, a PEG ratio of 1.03 and a beta of 1.01. Manulife Financial Corp has a twelve month low of $25.45 and a twelve month high of $33.07. The firm's fifty day moving average price is $31.09 and its 200 day moving average price is $30.54.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.69 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.02). Manulife Financial had a return on equity of 15.77% and a net margin of 10.46%. The business had revenue of $11.30 billion for the quarter. During the same period last year, the business posted $0.91 earnings per share. As a group, equities research analysts anticipate that Manulife Financial Corp will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, August 20th will be paid a $0.3199 dividend. This is an increase from Manulife Financial's previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Wednesday, August 20th. Manulife Financial's dividend payout ratio is 57.14%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MFC shares. Royal Bank Of Canada decreased their price target on shares of Manulife Financial from $51.00 to $49.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Morgan Stanley set a $46.00 target price on shares of Manulife Financial in a research note on Monday, May 19th.

About Manulife Financial

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.