Wetherby Asset Management Inc. increased its stake in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 3.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 26,547 shares of the financial services provider’s stock after buying an additional 972 shares during the period. Wetherby Asset Management Inc.’s holdings in Manulife Financial Corp were worth $498,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Causeway Capital Management LLC boosted its position in shares of Manulife Financial Corp by 196.6% in the first quarter. Causeway Capital Management LLC now owns 15,761,517 shares of the financial services provider’s stock valued at $279,609,000 after buying an additional 10,447,098 shares during the period. FMR LLC boosted its position in shares of Manulife Financial Corp by 14.8% in the first quarter. FMR LLC now owns 41,809,722 shares of the financial services provider’s stock valued at $741,656,000 after buying an additional 5,378,760 shares during the period. Wellington Management Group LLP boosted its position in shares of Manulife Financial Corp by 51.9% in the first quarter. Wellington Management Group LLP now owns 14,767,058 shares of the financial services provider’s stock valued at $261,385,000 after buying an additional 5,046,441 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Manulife Financial Corp during the second quarter valued at approximately $64,849,000. Finally, AQR Capital Management LLC boosted its position in shares of Manulife Financial Corp by 2,937.8% in the first quarter. AQR Capital Management LLC now owns 3,503,965 shares of the financial services provider’s stock valued at $61,979,000 after buying an additional 3,388,619 shares during the period. 48.27% of the stock is owned by hedge funds and other institutional investors.

Shares of Manulife Financial Corp (MFC) opened at 19.62 on Friday. The firm has a market capitalization of $38.48 billion, a PE ratio of 13.44 and a beta of 1.30. Manulife Financial Corp has a 52-week low of $13.16 and a 52-week high of $20.84. The stock has a 50 day moving average price of $19.67 and a 200-day moving average price of $18.38.

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data 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 company 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 firm posted $0.40 earnings per share. Equities analysts forecast that Manulife Financial Corp will post $1.73 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Tuesday, August 22nd will be paid a $0.1621 dividend. This represents a $0.65 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Friday, August 18th. This is an increase from Manulife Financial Corp’s previous quarterly dividend of $0.15. Manulife Financial Corp’s payout ratio is presently 43.48%.

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Several research analysts recently commented on MFC shares. ValuEngine cut Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub cut Manulife Financial Corp from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. National Bank Financial reissued a “sector perform overweight” rating on shares of Manulife Financial Corp in a research report on Wednesday, May 3rd. Finally, Zacks Investment Research raised Manulife Financial Corp from a “sell” rating to a “hold” rating and set a $22.00 price target for the company in a research report on Monday, July 10th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target 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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