Trexquant Investment LP Purchases 66,445 Shares of Manulife Financial Co. (NYSE:MFC)

Trexquant Investment LP raised its position in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 197.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,073 shares of the financial services provider's stock after acquiring an additional 66,445 shares during the period. Trexquant Investment LP's holdings in Manulife Financial were worth $2,212,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Anchor Investment Management LLC acquired a new stake in Manulife Financial in the 4th quarter valued at approximately $27,000. Trust Co. of Vermont grew its position in Manulife Financial by 478.5% during the third quarter. Trust Co. of Vermont now owns 1,533 shares of the financial services provider's stock worth $28,000 after buying an additional 1,268 shares in the last quarter. NBC Securities Inc. acquired a new position in Manulife Financial in the 3rd quarter valued at approximately $32,000. Goodman Advisory Group LLC acquired a new stake in shares of Manulife Financial during the 4th quarter worth approximately $32,000. Finally, JFS Wealth Advisors LLC raised its stake in shares of Manulife Financial by 72.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,568 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 661 shares in the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Stock Up 1.5 %

NYSE:MFC traded up $0.40 on Friday, reaching $26.54. The stock had a trading volume of 5,762,897 shares, compared to its average volume of 3,573,687. The company has a market capitalization of $47.66 billion, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. Manulife Financial Co. has a 1-year low of $17.07 and a 1-year high of $26.81. The stock has a fifty day moving average price of $24.49 and a 200-day moving average price of $22.70.

Manulife Financial Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd will be given a dividend of $0.29 per share. The ex-dividend date is Tuesday, May 21st. This represents a $1.16 dividend on an annualized basis and a yield of 4.37%. Manulife Financial's dividend payout ratio (DPR) is presently 67.44%.

Wall Street Analyst Weigh In

MFC has been the topic of a number of recent research reports. National Bank Financial upgraded shares of Manulife Financial from a "sector perform" rating to an "outperform" rating in a research note on Thursday, May 9th. Desjardins raised shares of Manulife Financial from a "hold" rating to a "buy" rating in a research report on Thursday, February 15th. BMO Capital Markets upgraded shares of Manulife Financial from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $31.00 to $35.00 in a research note on Thursday, February 15th. Finally, Jefferies Financial Group assumed coverage on Manulife Financial in a research note on Thursday, February 22nd. They issued a "buy" rating on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $33.33.

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.