Doyle Wealth Management purchased a new position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 23,747 shares of the financial services provider’s stock, valued at approximately $495,000.

Several other hedge funds also recently bought and sold shares of MFC. Ameriprise Financial Inc. boosted its holdings in shares of Manulife Financial by 17.7% during the second quarter. Ameriprise Financial Inc. now owns 58,804 shares of the financial services provider’s stock worth $1,103,000 after purchasing an additional 8,823 shares during the period. Voya Investment Management LLC boosted its holdings in shares of Manulife Financial by 11.1% during the second quarter. Voya Investment Management LLC now owns 42,128 shares of the financial services provider’s stock worth $789,000 after purchasing an additional 4,215 shares during the period. Stifel Financial Corp boosted its holdings in shares of Manulife Financial by 53.6% during the second quarter. Stifel Financial Corp now owns 54,450 shares of the financial services provider’s stock worth $1,024,000 after purchasing an additional 18,997 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Manulife Financial by 277.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 308,400 shares of the financial services provider’s stock worth $5,783,000 after purchasing an additional 226,800 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Manulife Financial by 15.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 84,067 shares of the financial services provider’s stock worth $1,576,000 after purchasing an additional 11,353 shares during the period. Institutional investors and hedge funds own 46.28% of the company’s stock.

Several equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Tuesday, January 2nd. National Bank Financial raised shares of Manulife Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 24th. Finally, Scotiabank reaffirmed a “buy” rating and set a $31.00 price objective on shares of Manulife Financial in a research report on Wednesday, January 31st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Manulife Financial presently has an average rating of “Buy” and an average target price of $26.67.

Manulife Financial Co. (NYSE:MFC) opened at $19.92 on Monday. The firm has a market cap of $39,490.09, a P/E ratio of 11.58, a P/E/G ratio of 1.01 and a beta of 1.28. Manulife Financial Co. has a 52-week low of $16.62 and a 52-week high of $22.16.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 19th. Investors of record on Wednesday, February 21st will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Tuesday, February 20th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.16. Manulife Financial’s dividend payout ratio (DPR) is presently 86.49%.

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About Manulife Financial

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 (NYSE:MFC)

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