Sienna Gestion Boosts Holdings in Manulife Financial Corp $MFC

Sienna Gestion boosted its holdings in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 8.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 604,039 shares of the financial services provider’s stock after purchasing an additional 47,800 shares during the period. Manulife Financial comprises 1.3% of Sienna Gestion’s portfolio, making the stock its 14th largest position. Sienna Gestion’s holdings in Manulife Financial were worth $21,990,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MFC. Basepoint Wealth LLC acquired a new position in shares of Manulife Financial in the 4th quarter valued at approximately $25,000. Hantz Financial Services Inc. acquired a new stake in shares of Manulife Financial during the fourth quarter worth approximately $28,000. Sfam LLC bought a new stake in shares of Manulife Financial in the fourth quarter worth $28,000. Heritage Wealth Advisors bought a new stake in shares of Manulife Financial in the fourth quarter worth $30,000. Finally, Blueline Advisors LLC bought a new stake in shares of Manulife Financial in the fourth quarter worth $34,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Performance

Shares of MFC opened at $40.75 on Tuesday. Manulife Financial Corp has a 1 year low of $29.70 and a 1 year high of $40.86. The company has a market cap of $68.00 billion, a price-to-earnings ratio of 16.17 and a beta of 0.84. The firm has a fifty day moving average of $38.43 and a 200-day moving average of $36.81.

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

Manulife Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, May 29th will be paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Friday, May 29th. Manulife Financial’s payout ratio is currently 56.75%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MFC shares. TD Securities restated a “buy” rating on shares of Manulife Financial in a research note on Thursday, May 14th. Weiss Ratings upgraded shares of Manulife Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, May 28th. Finally, Scotiabank restated an “outperform” rating on shares of Manulife Financial in a research note on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $51.50.

Manulife Financial Company 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.