Glenmede Trust Co. NA Raises Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Glenmede Trust Co. NA raised its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 26.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,540 shares of the financial services provider’s stock after purchasing an additional 4,780 shares during the period. Glenmede Trust Co. NA’s holdings in Manulife Financial were worth $666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Toronto Dominion Bank boosted its stake in Manulife Financial by 3.2% in the second quarter. Toronto Dominion Bank now owns 24,057,503 shares of the financial services provider’s stock valued at $640,411,000 after acquiring an additional 750,422 shares in the last quarter. 1832 Asset Management L.P. boosted its position in shares of Manulife Financial by 34.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 19,723,609 shares of the financial services provider’s stock worth $525,042,000 after purchasing an additional 5,036,716 shares in the last quarter. Legal & General Group Plc grew its stake in Manulife Financial by 0.5% during the 2nd quarter. Legal & General Group Plc now owns 14,783,400 shares of the financial services provider’s stock worth $393,592,000 after buying an additional 75,244 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Manulife Financial by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,186,930 shares of the financial services provider’s stock valued at $153,455,000 after purchasing an additional 158,216 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Manulife Financial by 288.4% in the second quarter. Acadian Asset Management LLC now owns 3,943,509 shares of the financial services provider’s stock worth $104,966,000 after purchasing an additional 2,928,316 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MFC has been the subject of a number of research reports. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Barclays started coverage on Manulife Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating on the stock. One investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $37.50.

Manulife Financial Stock Down 0.8 %

MFC stock opened at $32.07 on Wednesday. Manulife Financial Co. has a 52-week low of $19.53 and a 52-week high of $33.07. The firm has a market cap of $56.18 billion, a P/E ratio of 15.49, a PEG ratio of 1.19 and a beta of 1.09. The company’s 50-day simple moving average is $30.85 and its 200-day simple moving average is $28.01.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.30. The company had revenue of $10.69 billion for the quarter, compared to the consensus estimate of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same quarter in the prior year, the business posted $0.69 earnings per share. On average, analysts anticipate that Manulife Financial Co. will post 2.72 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be issued a $0.296 dividend. This represents a $1.18 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Wednesday, November 20th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s payout ratio is presently 57.00%.

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.