JARISLOWSKY FRASER Ltd Has $494.66 Million Stake in Manulife Financial Co. (NYSE:MFC)

JARISLOWSKY FRASER Ltd lowered its stake in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,160,979 shares of the financial services provider's stock after selling 571,139 shares during the period. Manulife Financial accounts for about 2.9% of JARISLOWSKY FRASER Ltd's investment portfolio, making the stock its 10th largest position. JARISLOWSKY FRASER Ltd owned about 0.94% of Manulife Financial worth $494,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crews Bank & Trust bought a new stake in shares of Manulife Financial during the fourth quarter valued at approximately $26,000. Lee Danner & Bass Inc. bought a new stake in Manulife Financial in the fourth quarter worth $31,000. Stonebridge Financial Group LLC bought a new stake in Manulife Financial in the fourth quarter worth $34,000. Golden State Wealth Management LLC bought a new stake in Manulife Financial in the fourth quarter worth $35,000. Finally, CKW Financial Group bought a new stake in Manulife Financial in the fourth quarter worth $37,000. Institutional investors own 52.56% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MFC shares. Scotiabank restated an "outperform" rating on shares of Manulife Financial in a research report on Monday, February 3rd. Royal Bank of Canada boosted their price target on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. One 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 company. According to MarketBeat, Manulife Financial currently has a consensus rating of "Buy" and an average target price of $45.50.

Manulife Financial Stock Performance

MFC stock traded up $0.14 during mid-day trading on Friday, reaching $32.01. 1,685,157 shares of the stock traded hands, compared to its average volume of 2,168,495. Manulife Financial Co. has a one year low of $23.30 and a one year high of $33.07. The stock has a market capitalization of $54.82 billion, a PE ratio of 15.46, a PEG ratio of 1.11 and a beta of 1.00. The business has a 50-day moving average price of $30.01 and a two-hundred day moving average price of $30.51.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its earnings results on Wednesday, May 7th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.01). Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The company had revenue of $1.49 billion for the quarter. During the same period in the prior year, the company earned $0.94 earnings per share. On average, equities analysts expect that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal 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. The ex-dividend date of this dividend is Wednesday, May 21st. This is a positive change from Manulife Financial's previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 3.99%. Manulife Financial's dividend 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.