Renaissance Group LLC increased its stake in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 858,327 shares of the financial services provider’s stock after buying an additional 29,911 shares during the period. Renaissance Group LLC’s holdings in Manulife Financial Corp were worth $16,102,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Ronald Blue & Co. LLC increased its stake in Manulife Financial Corp by 0.7% in the second quarter. Ronald Blue & Co. LLC now owns 12,997 shares of the financial services provider’s stock valued at $244,000 after buying an additional 93 shares in the last quarter. Whittier Trust Co. increased its stake in Manulife Financial Corp by 1.2% in the first quarter. Whittier Trust Co. now owns 12,018 shares of the financial services provider’s stock valued at $213,000 after buying an additional 146 shares in the last quarter. Bessemer Group Inc. increased its stake in Manulife Financial Corp by 0.9% in the second quarter. Bessemer Group Inc. now owns 29,736 shares of the financial services provider’s stock valued at $558,000 after buying an additional 261 shares in the last quarter. Park National Corp OH increased its stake in Manulife Financial Corp by 3.9% in the second quarter. Park National Corp OH now owns 13,525 shares of the financial services provider’s stock valued at $254,000 after buying an additional 508 shares in the last quarter. Finally, BB&T Corp increased its stake in Manulife Financial Corp by 1.5% in the first quarter. BB&T Corp now owns 38,526 shares of the financial services provider’s stock valued at $683,000 after buying an additional 586 shares in the last quarter. 45.97% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Corp (MFC) opened at 19.68 on Tuesday. The company has a market cap of $38.93 billion, a P/E ratio of 13.65 and a beta of 1.30. Manulife Financial Corp has a 52 week low of $13.38 and a 52 week high of $20.84. The company has a 50-day moving average of $19.97 and a 200-day moving average of $18.42.

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, August 9th. The financial services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The firm had revenue of $12.34 billion for the quarter, compared to analyst estimates of $16.09 billion. During the same period in the previous year, the firm posted $0.40 earnings per share. On average, equities research analysts predict that Manulife Financial Corp will post $1.79 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Tuesday, August 22nd will be given 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 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Friday, August 18th. Manulife Financial Corp’s payout ratio is presently 47.83%.

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

About Manulife Financial Corp

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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