Candriam S.C.A. Grows Stake in Manulife Financial Corp $MFC

Candriam S.C.A. boosted its holdings in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 13.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 626,180 shares of the financial services provider’s stock after buying an additional 73,553 shares during the period. Candriam S.C.A.’s holdings in Manulife Financial were worth $19,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC boosted its stake in Manulife Financial by 33.9% in the 4th quarter. Brighton Jones LLC now owns 9,393 shares of the financial services provider’s stock worth $288,000 after purchasing an additional 2,376 shares in the last quarter. Cerity Partners LLC increased its stake in Manulife Financial by 47.8% during the 1st quarter. Cerity Partners LLC now owns 172,708 shares of the financial services provider’s stock valued at $5,380,000 after purchasing an additional 55,881 shares in the last quarter. CWM LLC raised its holdings in shares of Manulife Financial by 16.7% in the first quarter. CWM LLC now owns 16,476 shares of the financial services provider’s stock worth $513,000 after buying an additional 2,357 shares during the last quarter. Apollon Wealth Management LLC lifted its stake in shares of Manulife Financial by 91.7% during the first quarter. Apollon Wealth Management LLC now owns 18,657 shares of the financial services provider’s stock worth $581,000 after buying an additional 8,925 shares during the period. Finally, Cullen Frost Bankers Inc. grew its holdings in shares of Manulife Financial by 434.2% during the first quarter. Cullen Frost Bankers Inc. now owns 3,472 shares of the financial services provider’s stock valued at $108,000 after buying an additional 2,822 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Analyst Upgrades and Downgrades

MFC has been the subject of a number of research reports. Morgan Stanley set a $47.00 price target on Manulife Financial in a research report on Tuesday, October 7th. Royal Bank Of Canada decreased their target price on Manulife Financial from $51.00 to $49.00 and set an “outperform” rating for the company in a report on Friday, August 8th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Manulife Financial in a research report on Wednesday, October 8th. Finally, UBS Group began coverage on shares of Manulife Financial in a report on Thursday, October 16th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $48.00.

Manulife Financial Stock Performance

Shares of NYSE MFC opened at $34.42 on Friday. The firm has a fifty day moving average of $32.04 and a 200 day moving average of $31.42. The firm has a market cap of $58.00 billion, a PE ratio of 15.37, a PEG ratio of 1.13 and a beta of 0.98. Manulife Financial Corp has a one year low of $25.92 and a one year high of $35.57.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, November 12th. The financial services provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.10. Manulife Financial had a net margin of 10.46% and a return on equity of 15.77%. The business had revenue of $12.90 billion during the quarter. During the same period in the prior year, the firm earned $1.00 EPS. On average, equities analysts predict that Manulife Financial Corp will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Wednesday, November 26th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Wednesday, November 26th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.32. Manulife Financial’s payout ratio is currently 56.70%.

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.