Manulife Financial Corp $MFC Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its holdings in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 17.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 618,113 shares of the financial services provider’s stock after buying an additional 91,264 shares during the period. BNP Paribas Financial Markets’ holdings in Manulife Financial were worth $22,425,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Hoge Financial Services LLC increased its stake in shares of Manulife Financial by 0.9% in the fourth quarter. Hoge Financial Services LLC now owns 31,975 shares of the financial services provider’s stock worth $1,160,000 after buying an additional 272 shares during the last quarter. Kathmere Capital Management LLC raised its holdings in shares of Manulife Financial by 2.0% during the fourth quarter. Kathmere Capital Management LLC now owns 14,421 shares of the financial services provider’s stock valued at $523,000 after buying an additional 277 shares during the last quarter. Americana Partners LLC raised its holdings in shares of Manulife Financial by 0.5% during the fourth quarter. Americana Partners LLC now owns 59,081 shares of the financial services provider’s stock valued at $2,143,000 after buying an additional 295 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Manulife Financial by 1.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,206 shares of the financial services provider’s stock worth $987,000 after purchasing an additional 329 shares in the last quarter. Finally, Bridgewater Advisors Inc. grew its stake in shares of Manulife Financial by 4.3% in the third quarter. Bridgewater Advisors Inc. now owns 8,203 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 337 shares in the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Weiss Ratings upgraded Manulife Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, May 28th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Manulife Financial in a report on Friday, February 13th. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research report on Wednesday, April 29th. Finally, TD Securities restated a “buy” rating on shares of Manulife Financial in a report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $51.50.

Manulife Financial Trading Up 0.6%

Shares of Manulife Financial stock opened at $38.75 on Friday. The stock has a market capitalization of $64.66 billion, a price-to-earnings ratio of 15.38 and a beta of 0.84. Manulife Financial Corp has a 1-year low of $29.70 and a 1-year high of $40.40. The firm’s 50-day moving average price is $37.79 and its two-hundred day moving average price is $36.57.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, May 13th. The financial services provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.02). The firm had revenue of $8.89 billion for the quarter, compared to the consensus estimate of $2.32 billion. Manulife Financial had a return on equity of 16.58% and a net margin of 10.19%.During the same period in the prior year, the company posted $0.99 earnings per share. As a group, equities research analysts predict that Manulife Financial Corp will post 3.2 EPS for the current year.

Manulife Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, May 29th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Friday, May 29th. Manulife Financial’s dividend payout ratio is presently 56.75%.

Manulife Financial Profile

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.