Verition Fund Management LLC raised its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 129.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,727 shares of the financial services provider’s stock after buying an additional 21,263 shares during the period. Verition Fund Management LLC’s holdings in Manulife Financial were worth $678,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Letko Brosseau & Associates Inc. boosted its holdings in Manulife Financial by 7.7% during the second quarter. Letko Brosseau & Associates Inc. now owns 19,231,896 shares of the financial services provider’s stock worth $345,325,000 after buying an additional 1,381,094 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Manulife Financial by 3.3% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,701,545 shares of the financial services provider’s stock valued at $317,846,000 after acquiring an additional 566,117 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Manulife Financial by 123.4% in the 2nd quarter. Toronto Dominion Bank now owns 11,548,947 shares of the financial services provider’s stock valued at $210,529,000 after acquiring an additional 6,379,595 shares in the last quarter. Mawer Investment Management Ltd. lifted its position in shares of Manulife Financial by 4.9% in the 2nd quarter. Mawer Investment Management Ltd. now owns 11,126,552 shares of the financial services provider’s stock valued at $200,071,000 after acquiring an additional 524,066 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Manulife Financial by 7.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,456,137 shares of the financial services provider’s stock valued at $116,009,000 after acquiring an additional 447,358 shares in the last quarter. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Shares of NYSE:MFC opened at $18.13 on Wednesday. The company has a market capitalization of $36.36 billion, a P/E ratio of 10.60, a PEG ratio of 0.90 and a beta of 1.28. Manulife Financial Co. has a 52 week low of $17.44 and a 52 week high of $22.16.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, August 8th. The financial services provider reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.21. The business had revenue of $10.59 billion during the quarter. Manulife Financial had a net margin of 4.22% and a return on equity of 12.69%. During the same quarter last year, the company posted $0.57 EPS. research analysts forecast that Manulife Financial Co. will post 2.03 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 19th. Investors of record on Tuesday, August 21st were given a $0.169 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.73%. The ex-dividend date was Monday, August 20th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.13. Manulife Financial’s dividend payout ratio is 39.77%.

Several equities research analysts recently commented on MFC shares. Morgan Stanley reduced their price target on shares of Manulife Financial from $27.00 to $26.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 11th. Zacks Investment Research upgraded shares of Manulife Financial from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Evercore ISI started coverage on shares of Manulife Financial in a research report on Tuesday, July 10th. They issued an “in-line” rating for the company. Finally, ValuEngine downgraded shares of Manulife Financial from a “hold” rating to a “sell” rating in a research report on Monday, June 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $26.33.

About Manulife Financial

Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance through insurance agents, brokers, banks, financial planners, and direct marketing.

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

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