Triasima Portfolio Management inc. Buys New Shares in Manulife Financial Co. (NYSE:MFC)

Triasima Portfolio Management inc. acquired a new stake in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 44,500 shares of the financial services provider's stock, valued at approximately $985,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Manulife Financial by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 71,526,674 shares of the financial services provider's stock valued at $1,307,508,000 after buying an additional 1,086,776 shares during the period. Norges Bank acquired a new position in Manulife Financial during the 4th quarter worth $406,195,000. Legal & General Group Plc grew its stake in Manulife Financial by 4.2% during the 3rd quarter. Legal & General Group Plc now owns 11,138,365 shares of the financial services provider's stock worth $204,468,000 after purchasing an additional 446,444 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Manulife Financial by 7.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,680,517 shares of the financial services provider's stock worth $195,240,000 after purchasing an additional 775,135 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Manulife Financial by 1.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,445,466 shares of the financial services provider's stock worth $172,663,000 after purchasing an additional 119,192 shares in the last quarter. Hedge funds and other institutional investors own 52.56% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. BMO Capital Markets raised Manulife Financial from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $31.00 to $35.00 in a research note on Thursday, February 15th. TheStreet raised Manulife Financial from a "c+" rating to a "b" rating in a research note on Thursday, December 21st. Jefferies Financial Group initiated coverage on Manulife Financial in a research report on Thursday, February 22nd. They set a "buy" rating for the company. Finally, Desjardins raised Manulife Financial from a "hold" rating to a "buy" rating in a research report on Thursday, February 15th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.33.

Manulife Financial Price Performance

Shares of MFC stock traded down $0.52 during trading hours on Friday, reaching $23.19. 2,670,558 shares of the company's stock were exchanged, compared to its average volume of 2,952,392. The company has a market cap of $41.77 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 0.86 and a beta of 1.08. The company's 50 day moving average is $23.93 and its two-hundred day moving average is $21.30. Manulife Financial Co. has a 1 year low of $17.07 and a 1 year high of $25.14.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.05. The firm had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $7.57 billion. Manulife Financial had a return on equity of 15.98% and a net margin of 10.42%. As a group, analysts predict that Manulife Financial Co. will post 2.71 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, February 28th were issued a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date of this dividend was Tuesday, February 27th. This is a boost from Manulife Financial's previous quarterly dividend of $0.26. Manulife Financial's dividend payout ratio is 61.66%.

Manulife Financial Company 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.