Metis Global Partners LLC Raises Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Metis Global Partners LLC raised its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 8.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,016 shares of the financial services provider’s stock after purchasing an additional 6,024 shares during the quarter. Metis Global Partners LLC’s holdings in Manulife Financial were worth $1,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its stake in Manulife Financial by 109.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 199,140 shares of the financial services provider’s stock valued at $4,401,000 after purchasing an additional 104,026 shares during the last quarter. Blue Trust Inc. boosted its holdings in Manulife Financial by 5.7% in the 4th quarter. Blue Trust Inc. now owns 10,465 shares of the financial services provider’s stock worth $231,000 after buying an additional 568 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Manulife Financial by 8.8% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,507,589 shares of the financial services provider’s stock valued at $100,922,000 after buying an additional 446,233 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Manulife Financial by 44.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 86,268 shares of the financial services provider’s stock valued at $1,577,000 after acquiring an additional 26,369 shares during the period. Finally, AustralianSuper Pty Ltd boosted its holdings in shares of Manulife Financial by 11.2% in the fourth quarter. AustralianSuper Pty Ltd now owns 5,793,161 shares of the financial services provider’s stock worth $128,019,000 after acquiring an additional 582,468 shares during the period. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Stock Performance

NYSE MFC opened at $24.24 on Wednesday. The company has a market capitalization of $43.53 billion, a P/E ratio of 12.56, a P/E/G ratio of 0.89 and a beta of 1.08. Manulife Financial Co. has a 52-week low of $17.07 and a 52-week high of $25.14. The company has a fifty day moving average of $23.94 and a 200-day moving average of $21.94.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. The firm had revenue of $10.96 billion during the quarter, compared to analyst estimates of $7.57 billion. Manulife Financial had a net margin of 10.42% and a return on equity of 15.98%. As a group, analysts forecast that Manulife Financial Co. will post 2.7 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. Investors of record on Wednesday, February 28th were issued a dividend of $0.298 per share. The ex-dividend date was Tuesday, February 27th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.26. This represents a $1.19 annualized dividend and a yield of 4.92%. Manulife Financial’s dividend payout ratio is currently 61.66%.

Analysts Set New Price Targets

MFC has been the topic of a number of recent research reports. Desjardins raised Manulife Financial from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. Jefferies Financial Group started coverage on shares of Manulife Financial in a report on Thursday, February 22nd. They set a “buy” rating on the stock. Finally, BMO Capital Markets upgraded shares of Manulife Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $31.00 to $35.00 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 company’s stock. Based on data from MarketBeat, the company 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.