Vanguard Group Inc. Has $1.58 Billion Holdings in Manulife Financial Co. (NYSE:MFC)

Vanguard Group Inc. increased its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 0.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 71,561,487 shares of the financial services provider’s stock after acquiring an additional 34,813 shares during the period. Vanguard Group Inc.’s holdings in Manulife Financial were worth $1,581,509,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Anchor Investment Management LLC acquired a new position in shares of Manulife Financial during the 4th quarter worth about $27,000. Fortis Group Advisors LLC boosted its position in Manulife Financial by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 1,210 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 605 shares during the last quarter. Creekmur Asset Management LLC acquired a new position in Manulife Financial during the fourth quarter valued at approximately $30,000. Goodman Advisory Group LLC bought a new position in Manulife Financial in the fourth quarter valued at approximately $32,000. Finally, Trust Co. of Vermont increased its position in shares of Manulife Financial by 478.5% during the 3rd quarter. Trust Co. of Vermont now owns 1,533 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 1,268 shares during the last quarter. Institutional investors own 52.56% of the company’s stock.

Analyst Ratings Changes

MFC has been the subject of several recent analyst reports. National Bank Financial raised Manulife Financial from a “sector perform” rating to an “outperform” rating in a report on Thursday, May 9th. Jefferies Financial Group initiated coverage on shares of Manulife Financial in a research note on Thursday, February 22nd. They issued a “buy” rating for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

Manulife Financial Trading Up 0.2 %

Shares of NYSE MFC opened at $25.55 on Thursday. The company has a market capitalization of $45.73 billion, a P/E ratio of 14.85, a P/E/G ratio of 0.93 and a beta of 1.09. Manulife Financial Co. has a 12 month low of $17.07 and a 12 month high of $26.81. The stock has a 50 day moving average of $24.98 and a 200-day moving average of $23.51.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.04. Manulife Financial had a return on equity of 16.27% and a net margin of 9.28%. The business had revenue of $9.49 billion during the quarter, compared to the consensus estimate of $8.85 billion. Analysts predict that Manulife Financial Co. will post 2.74 EPS for the current fiscal year.

Manulife Financial Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.54%. The ex-dividend date was Tuesday, May 21st. Manulife Financial’s payout ratio is 67.44%.

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.