Dimensional Fund Advisors LP grew its holdings in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,902,499 shares of the financial services provider’s stock after purchasing an additional 17,486 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.25% of Manulife Financial Corp worth $91,971,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Andra AP fonden increased its position in shares of Manulife Financial Corp by 10.1% during the 2nd quarter. Andra AP fonden now owns 178,400 shares of the financial services provider’s stock valued at $3,347,000 after purchasing an additional 16,400 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Manulife Financial Corp by 1.3% during the 2nd quarter. Wells Fargo & Company MN now owns 13,554,829 shares of the financial services provider’s stock valued at $254,288,000 after purchasing an additional 176,947 shares during the last quarter. Flippin Bruce & Porter Inc. increased its position in shares of Manulife Financial Corp by 5.8% during the 2nd quarter. Flippin Bruce & Porter Inc. now owns 175,510 shares of the financial services provider’s stock valued at $3,293,000 after purchasing an additional 9,555 shares during the last quarter. Renaissance Group LLC increased its position in shares of Manulife Financial Corp by 3.6% during the 2nd quarter. Renaissance Group LLC now owns 858,327 shares of the financial services provider’s stock valued at $16,102,000 after purchasing an additional 29,911 shares during the last quarter. Finally, Bridgewater Associates LP purchased a new stake in shares of Manulife Financial Corp during the 2nd quarter valued at about $7,131,000. 45.96% of the stock is owned by hedge funds and other institutional investors.

Shares of Manulife Financial Corp (NYSE:MFC) opened at 20.31 on Thursday. The stock has a market capitalization of $40.17 billion, a price-to-earnings ratio of 13.48 and a beta of 1.29. The company has a 50-day moving average of $19.85 and a 200 day moving average of $18.70. Manulife Financial Corp has a 12-month low of $14.15 and a 12-month high of $20.84.

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.01. The company had revenue of $12.34 billion for the quarter, compared to analysts’ expectations of $16.09 billion. During the same quarter in the prior year, the business posted $0.40 earnings per share. Analysts predict that Manulife Financial Corp will post $1.82 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Investors of record on Tuesday, August 22nd were 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 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Friday, August 18th. Manulife Financial Corp’s dividend payout ratio (DPR) is currently 47.83%.

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Several equities research analysts have recently commented on MFC shares. BidaskClub lowered shares of Manulife Financial Corp from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Zacks Investment Research raised shares of 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. Finally, ValuEngine lowered shares of Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 18th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average 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.

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

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