Addenda Capital Inc. increased its position in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 5.1% during the second quarter, Holdings Channel reports. The fund owned 3,172,738 shares of the financial services provider’s stock after buying an additional 154,754 shares during the period. Manulife Financial Corp comprises about 4.4% of Addenda Capital Inc.’s holdings, making the stock its 5th largest position. Addenda Capital Inc.’s holdings in Manulife Financial Corp were worth $59,379,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Personal Financial Services increased its position in shares of Manulife Financial Corp by 118.4% in the first quarter. First Personal Financial Services now owns 7,442 shares of the financial services provider’s stock worth $132,000 after buying an additional 4,035 shares during the last quarter. Howard Hughes Medical Institute bought a new position in shares of Manulife Financial Corp during the first quarter worth approximately $155,000. Huntington National Bank increased its position in shares of Manulife Financial Corp by 220.4% in the first quarter. Huntington National Bank now owns 10,354 shares of the financial services provider’s stock worth $184,000 after buying an additional 7,122 shares during the last quarter. Greenleaf Trust bought a new position in shares of Manulife Financial Corp during the first quarter worth approximately $185,000. Finally, Sadoff Investment Management LLC bought a new position in shares of Manulife Financial Corp during the second quarter worth approximately $188,000. 48.30% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Manulife Financial Corp (MFC) opened at 19.94 on Friday. The company has a market capitalization of $39.44 billion, a P/E ratio of 13.67 and a beta of 1.30. The firm has a 50-day moving average of $19.88 and a 200 day moving average of $18.40. Manulife Financial Corp has a 52-week low of $13.10 and a 52-week high of $20.84.

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01. The business had revenue of $12.34 billion for the quarter, compared to the consensus estimate of $16.09 billion. During the same period in the prior year, the business earned $0.40 earnings per share. On average, analysts anticipate that Manulife Financial Corp will post $1.77 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Tuesday, August 22nd will be paid a dividend of $0.1621 per share. This is a boost from Manulife Financial Corp’s previous quarterly dividend of $0.15. This represents a $0.65 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Friday, August 18th. Manulife Financial Corp’s dividend payout ratio (DPR) is currently 43.48%.

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A number of research analysts recently commented on the stock. BidaskClub raised shares of Manulife Financial Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Manulife Financial Corp in a research report on Wednesday, May 3rd. Zacks Investment Research raised shares of Manulife Financial Corp from a “sell” rating to a “hold” rating and set a $22.00 price objective on the stock in a research report on Monday, July 10th. Finally, ValuEngine downgraded shares of Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $23.33.

Manulife Financial Corp Company Profile

Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.

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Institutional Ownership by Quarter for Manulife Financial Corp (NYSE:MFC)

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