Manulife Financial Corp $MFC Shares Acquired by Korea Investment CORP

Korea Investment CORP increased its position in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,656,131 shares of the financial services provider’s stock after acquiring an additional 18,336 shares during the quarter. Korea Investment CORP owned approximately 0.10% of Manulife Financial worth $51,610,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bridgewater Advisors Inc. lifted its stake in shares of Manulife Financial by 4.3% during the 3rd quarter. Bridgewater Advisors Inc. now owns 8,203 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 337 shares during the period. Wealth Alliance LLC grew its position in shares of Manulife Financial by 1.7% in the second quarter. Wealth Alliance LLC now owns 20,984 shares of the financial services provider’s stock valued at $671,000 after purchasing an additional 345 shares during the period. HM Payson & Co. increased its stake in Manulife Financial by 9.0% in the third quarter. HM Payson & Co. now owns 4,308 shares of the financial services provider’s stock valued at $134,000 after purchasing an additional 354 shares during the last quarter. Signaturefd LLC increased its stake in Manulife Financial by 0.7% in the third quarter. Signaturefd LLC now owns 53,762 shares of the financial services provider’s stock valued at $1,675,000 after purchasing an additional 373 shares during the last quarter. Finally, Haven Private LLC lifted its position in Manulife Financial by 4.0% during the third quarter. Haven Private LLC now owns 9,954 shares of the financial services provider’s stock worth $310,000 after buying an additional 387 shares during the period. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Price Performance

Shares of MFC opened at $33.65 on Monday. Manulife Financial Corp has a 12 month low of $25.92 and a 12 month high of $38.72. The stock’s 50-day moving average is $36.75 and its two-hundred day moving average is $34.29. The stock has a market cap of $56.42 billion, a PE ratio of 15.16 and a beta of 0.83.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, February 11th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.04. The business had revenue of $11.32 billion during the quarter, compared to analyst estimates 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 last year, the firm earned $1.03 earnings per share. On average, research analysts anticipate 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 will be paid on Thursday, March 19th. Shareholders of record on Wednesday, February 25th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 5.8%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Wednesday, February 25th. Manulife Financial’s dividend payout ratio is 63.96%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MFC. Morgan Stanley set a $51.00 price target on Manulife Financial in a research note on Monday, December 15th. BMO Capital Markets reiterated an “outperform” rating on shares of Manulife Financial in a report on Friday, November 14th. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research report on Thursday, February 5th. Weiss Ratings downgraded shares of Manulife Financial from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, February 13th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Manulife Financial in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. Based on data from MarketBeat, Manulife Financial currently has an average rating of “Buy” and an average price target of $51.50.

About Manulife Financial

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.