Swiss Life Asset Management Ltd Purchases 25,999 Shares of Manulife Financial Corp $MFC

Swiss Life Asset Management Ltd lifted its position in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 20.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 151,231 shares of the financial services provider’s stock after buying an additional 25,999 shares during the period. Swiss Life Asset Management Ltd’s holdings in Manulife Financial were worth $4,718,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Root Financial Partners LLC acquired a new stake in Manulife Financial in the third quarter valued at approximately $25,000. Caldwell Trust Co acquired a new position in shares of Manulife Financial during the second quarter worth $27,000. American Wealth Advisors LLC acquired a new position in shares of Manulife Financial during the third quarter worth $36,000. Goodman Advisory Group LLC purchased a new stake in shares of Manulife Financial during the 2nd quarter valued at $39,000. Finally, Clearstead Trust LLC lifted its holdings in shares of Manulife Financial by 144.4% during the 3rd quarter. Clearstead Trust LLC now owns 1,256 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 742 shares during the last quarter. Institutional investors own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Weiss Ratings downgraded Manulife Financial from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, February 13th. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research note on Thursday, February 5th. Canadian Imperial Bank of Commerce raised Manulife Financial from a “neutral” rating to an “outperform” rating in a report on Thursday, January 8th. Morgan Stanley set a $51.00 price target on Manulife Financial in a research note on Monday, December 15th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Manulife Financial in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $51.50.

Manulife Financial Price Performance

NYSE MFC opened at $33.84 on Friday. The company has a market cap of $56.72 billion, a price-to-earnings ratio of 15.24 and a beta of 0.83. The stock’s fifty day moving average price is $36.17 and its 200 day moving average price is $34.50. Manulife Financial Corp has a 1 year low of $25.92 and a 1 year high of $38.72.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. The company had revenue of $11.32 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Manulife Financial had a return on equity of 16.43% and a net margin of 9.18%.During the same quarter in the previous year, the firm posted $1.03 EPS. Research analysts expect that Manulife Financial Corp will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Wednesday, February 25th were paid a $0.485 dividend. The ex-dividend date was Wednesday, February 25th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.44. This represents a $1.94 annualized dividend and a dividend yield of 5.7%. Manulife Financial’s dividend payout ratio (DPR) is 63.96%.

Manulife Financial Profile

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.