Invesco Ltd. Decreases Stake in Manulife Financial Co. (NYSE:MFC)

Invesco Ltd. reduced its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 12.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,164,230 shares of the financial services provider's stock after selling 431,461 shares during the quarter. Invesco Ltd. owned approximately 0.18% of Manulife Financial worth $97,174,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Ilmarinen Mutual Pension Insurance Co lifted its holdings in Manulife Financial by 37.7% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 365,000 shares of the financial services provider's stock valued at $11,202,000 after buying an additional 100,000 shares during the period. Hurley Capital LLC bought a new stake in shares of Manulife Financial during the 4th quarter valued at about $95,000. Thoroughbred Financial Services LLC acquired a new stake in Manulife Financial during the fourth quarter worth approximately $448,000. World Investment Advisors lifted its stake in Manulife Financial by 23.3% in the fourth quarter. World Investment Advisors now owns 15,223 shares of the financial services provider's stock valued at $467,000 after buying an additional 2,872 shares during the period. Finally, Huntington National Bank grew its position in shares of Manulife Financial by 8.9% during the 4th quarter. Huntington National Bank now owns 26,021 shares of the financial services provider's stock worth $799,000 after buying an additional 2,117 shares during the period. Institutional investors and hedge funds own 52.56% of the company's stock.

Manulife Financial Stock Up 0.0 %

MFC traded up $0.01 during trading on Friday, hitting $28.60. 1,914,254 shares of the company's stock were exchanged, compared to its average volume of 2,244,642. The business's 50 day moving average is $29.75 and its two-hundred day moving average is $30.43. The stock has a market cap of $49.14 billion, a P/E ratio of 13.82, a PEG ratio of 1.11 and a beta of 0.89. Manulife Financial Co. has a fifty-two week low of $22.81 and a fifty-two week high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.07. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The firm had revenue of $9.31 billion during the quarter. On average, sell-side analysts forecast that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.3094 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost from Manulife Financial's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 4.33%. Manulife Financial's dividend payout ratio (DPR) is 58.45%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Scotiabank reissued an "outperform" rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada boosted their target price on Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $45.50.

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.