Rockefeller Capital Management L.P. Acquires Shares of 12,155 Manulife Financial Co. (NYSE:MFC)

Rockefeller Capital Management L.P. purchased a new position in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,155 shares of the financial services provider's stock, valued at approximately $372,000.

Several other hedge funds also recently bought and sold shares of MFC. Little House Capital LLC lifted its holdings in shares of Manulife Financial by 1.0% in the 4th quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider's stock worth $1,037,000 after buying an additional 331 shares during the period. Robertson Stephens Wealth Management LLC raised its holdings in shares of Manulife Financial by 1.5% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 23,068 shares of the financial services provider's stock valued at $708,000 after purchasing an additional 339 shares in the last quarter. Erste Asset Management GmbH lifted its position in shares of Manulife Financial by 0.6% in the 4th quarter. Erste Asset Management GmbH now owns 69,300 shares of the financial services provider's stock worth $2,133,000 after purchasing an additional 400 shares during the period. TIAA Trust National Association boosted its stake in shares of Manulife Financial by 5.0% during the fourth quarter. TIAA Trust National Association now owns 8,419 shares of the financial services provider's stock valued at $259,000 after purchasing an additional 404 shares in the last quarter. Finally, Addison Advisors LLC increased its holdings in Manulife Financial by 45.9% during the fourth quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider's stock valued at $44,000 after buying an additional 449 shares during the period. Institutional investors own 52.56% of the company's stock.

Manulife Financial Stock Down 0.3 %

Shares of Manulife Financial stock traded down $0.11 during trading on Tuesday, reaching $30.40. The company's stock had a trading volume of 190,601 shares, compared to its average volume of 2,228,698. The company has a 50-day simple moving average of $29.73 and a two-hundred day simple moving average of $30.42. Manulife Financial Co. has a 1-year low of $23.27 and a 1-year high of $33.07. The company has a market cap of $52.23 billion, a price-to-earnings ratio of 14.67, a P/E/G ratio of 1.11 and a beta of 0.89.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.07. The firm had revenue of $9.31 billion for the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. As a group, analysts anticipate 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. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.3094 per share. This is an increase from Manulife Financial's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 4.07%. The ex-dividend date was Wednesday, March 5th. Manulife Financial's payout ratio is presently 58.45%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MFC. Scotiabank reiterated an "outperform" rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada boosted their target price on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a 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 stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $45.50.

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.