Principal Financial Group Inc. Has $3.77 Million Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Principal Financial Group Inc. raised its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 8.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 141,400 shares of the financial services provider’s stock after buying an additional 11,600 shares during the quarter. Principal Financial Group Inc.’s holdings in Manulife Financial were worth $3,765,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of MFC. Prudential PLC grew its holdings in shares of Manulife Financial by 11.1% during the fourth quarter. Prudential PLC now owns 1,141,942 shares of the financial services provider’s stock worth $25,235,000 after buying an additional 114,213 shares in the last quarter. Duality Advisers LP increased its stake in Manulife Financial by 795.2% during the 1st quarter. Duality Advisers LP now owns 217,658 shares of the financial services provider’s stock worth $5,439,000 after acquiring an additional 193,343 shares during the period. Alberta Investment Management Corp increased its stake in Manulife Financial by 21.4% during the 4th quarter. Alberta Investment Management Corp now owns 4,182,203 shares of the financial services provider’s stock worth $92,867,000 after acquiring an additional 737,203 shares during the period. Bessemer Group Inc. increased its stake in shares of Manulife Financial by 2,913.7% in the 1st quarter. Bessemer Group Inc. now owns 86,615 shares of the financial services provider’s stock valued at $2,163,000 after purchasing an additional 83,741 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Manulife Financial in the 4th quarter valued at $1,846,000. 52.56% of the stock is currently owned by institutional investors.

Manulife Financial Stock Up 0.4 %

MFC stock opened at $27.46 on Wednesday. The firm has a market cap of $48.60 billion, a PE ratio of 15.97, a P/E/G ratio of 0.99 and a beta of 1.08. The business has a 50 day moving average of $26.38 and a 200-day moving average of $25.37. Manulife Financial Co. has a 12-month low of $17.07 and a 12-month high of $27.82.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.64 by $0.27. The business had revenue of $9.41 billion for the quarter, compared to the consensus estimate of $8.95 billion. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. During the same quarter in the prior year, the business earned $0.62 earnings per share. On average, research analysts expect that Manulife Financial Co. will post 2.72 earnings per share for the current year.

Manulife Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st will be given a dividend of $0.29 per share. The ex-dividend date is Wednesday, August 21st. This represents a $1.16 annualized dividend and a dividend yield of 4.22%. Manulife Financial’s dividend payout ratio is currently 67.44%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MFC shares. Barclays initiated coverage on Manulife Financial in a research report on Thursday, September 5th. They set an “equal weight” rating on the stock. TD Securities upped their price target on Manulife Financial from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.67.

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.