Manulife Financial Co. (NYSE:MFC) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 292.3% during the third quarter, Holdings Channel.com reports. The fund owned 345,833 shares of the financial services provider’s stock after acquiring an additional 257,688 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Manulife Financial were worth $10,219,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MFC. Vanguard Group Inc. grew its position in shares of Manulife Financial by 1.0% in the first quarter. Vanguard Group Inc. now owns 72,289,251 shares of the financial services provider’s stock valued at $1,806,508,000 after purchasing an additional 727,764 shares during the last quarter. National Bank of Canada FI lifted its stake in Manulife Financial by 14.8% in the 1st quarter. National Bank of Canada FI now owns 28,803,968 shares of the financial services provider’s stock valued at $749,435,000 after buying an additional 3,720,693 shares in the last quarter. Toronto Dominion Bank grew its holdings in Manulife Financial by 3.2% during the 2nd quarter. Toronto Dominion Bank now owns 24,057,503 shares of the financial services provider’s stock valued at $640,411,000 after buying an additional 750,422 shares during the last quarter. 1832 Asset Management L.P. increased its position in Manulife Financial by 34.3% during the second quarter. 1832 Asset Management L.P. now owns 19,723,609 shares of the financial services provider’s stock worth $525,042,000 after buying an additional 5,036,716 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Manulife Financial by 0.5% in the second quarter. Legal & General Group Plc now owns 14,783,400 shares of the financial services provider’s stock worth $393,592,000 after acquiring an additional 75,244 shares during the last quarter. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Barclays initiated coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating for the company. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $35.67.

Manulife Financial Trading Down 0.6 %

Shares of NYSE:MFC opened at $29.79 on Friday. The firm has a market cap of $52.40 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 1.10 and a beta of 1.08. The stock’s 50-day moving average price is $28.69 and its two-hundred day moving average price is $26.57. Manulife Financial Co. has a 12-month low of $17.07 and a 12-month high of $30.86.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.27. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. The business had revenue of $9.41 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same period in the prior year, the firm posted $0.62 EPS. As a group, research analysts forecast that Manulife Financial Co. will post 2.74 earnings per share for the current fiscal year.

Manulife Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.16 annualized dividend and a dividend yield of 3.89%. Manulife Financial’s dividend payout ratio is presently 67.05%.

Manulife Financial Profile

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.