11,688 Shares in Manulife Financial Corp $MFC Bought by Fox Run Management L.L.C.

Fox Run Management L.L.C. bought a new position in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,688 shares of the financial services provider’s stock, valued at approximately $374,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Eastern Bank boosted its stake in shares of Manulife Financial by 156.1% during the 2nd quarter. Eastern Bank now owns 968 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 590 shares in the last quarter. William B. Walkup & Associates Inc. acquired a new stake in Manulife Financial in the 1st quarter worth approximately $43,000. Oliver Lagore Vanvalin Investment Group bought a new stake in Manulife Financial during the second quarter worth approximately $55,000. Carderock Capital Management Inc. bought a new stake in Manulife Financial during the second quarter worth approximately $58,000. Finally, Kozak & Associates Inc. acquired a new position in Manulife Financial during the second quarter valued at approximately $61,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Price Performance

NYSE:MFC opened at $34.36 on Thursday. Manulife Financial Corp has a one year low of $25.92 and a one year high of $34.50. The company has a fifty day moving average price of $31.97 and a 200 day moving average price of $31.40. The stock has a market cap of $57.89 billion, a P/E ratio of 15.34, a PEG ratio of 1.13 and a beta of 0.98.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Wednesday, November 26th will be paid a dividend of $0.44 per share. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.32. This represents a $1.76 annualized dividend and a yield of 5.1%. The ex-dividend date is Wednesday, November 26th. Manulife Financial’s dividend payout ratio is presently 56.70%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada reduced their price objective on shares of Manulife Financial from $51.00 to $49.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Manulife Financial in a report on Wednesday, October 8th. Morgan Stanley set a $47.00 price target on shares of Manulife Financial in a report on Tuesday, October 7th. Finally, UBS Group started coverage on Manulife Financial in a research report on Thursday, October 16th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat.com, Manulife Financial has an average rating of “Buy” and an average target price of $48.00.

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.