Manulife Financial Co. (NYSE:MFC) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC boosted its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 37.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 93,872 shares of the financial services provider’s stock after buying an additional 25,661 shares during the period. Intech Investment Management LLC’s holdings in Manulife Financial were worth $2,499,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MFC. Grove Bank & Trust purchased a new position in shares of Manulife Financial during the 2nd quarter worth $25,000. Fortis Group Advisors LLC raised its stake in Manulife Financial by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 1,210 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 605 shares during the period. Bruce G. Allen Investments LLC boosted its holdings in Manulife Financial by 73.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 1,156 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 490 shares during the last quarter. Addison Advisors LLC grew its stake in shares of Manulife Financial by 77.2% in the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock valued at $29,000 after buying an additional 467 shares during the period. Finally, HHM Wealth Advisors LLC increased its holdings in shares of Manulife Financial by 119.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock worth $29,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MFC. Barclays initiated coverage on Manulife Financial in a report on Thursday, September 5th. They issued an “equal weight” rating on the stock. TD Securities increased their price target on Manulife Financial from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.67.

Manulife Financial Stock Down 0.3 %

NYSE:MFC opened at $28.77 on Monday. Manulife Financial Co. has a 52 week low of $17.07 and a 52 week high of $28.97. The stock’s fifty day moving average is $26.59 and its two-hundred day moving average is $25.62. The stock has a market capitalization of $51.49 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.27. The firm had revenue of $9.41 billion for the quarter, compared to analyst estimates of $8.95 billion. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. During the same quarter in the prior year, the company earned $0.62 EPS. On average, sell-side analysts expect that Manulife Financial Co. will post 2.72 EPS for the current fiscal year.

Manulife Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 21st were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend was Wednesday, August 21st. Manulife Financial’s payout ratio is currently 66.86%.

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.