Sumitomo Mitsui DS Asset Management Company Ltd Has $909,000 Holdings in Manulife Financial Co. (NYSE:MFC)

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 3.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,773 shares of the financial services provider’s stock after buying an additional 931 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Manulife Financial were worth $909,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Duality Advisers LP raised its position in shares of Manulife Financial by 795.2% during the 1st quarter. Duality Advisers LP now owns 217,658 shares of the financial services provider’s stock valued at $5,439,000 after acquiring an additional 193,343 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Manulife Financial by 1,210.7% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,161,059 shares of the financial services provider’s stock valued at $30,922,000 after purchasing an additional 1,072,474 shares during the last quarter. Bessemer Group Inc. lifted its stake in Manulife Financial by 2,913.7% in the first quarter. Bessemer Group Inc. now owns 86,615 shares of the financial services provider’s stock valued at $2,163,000 after buying an additional 83,741 shares during the period. Legal & General Group Plc boosted its holdings in Manulife Financial by 0.5% during 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 buying an additional 75,244 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Manulife Financial by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 72,289,251 shares of the financial services provider’s stock worth $1,806,508,000 after buying an additional 727,764 shares during the period. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Manulife Financial Stock Performance

NYSE MFC opened at $30.09 on Wednesday. Manulife Financial Co. has a 52 week low of $17.07 and a 52 week high of $30.86. The stock’s 50 day moving average price is $28.45 and its two-hundred day moving average price is $26.49. The stock has a market capitalization of $53.85 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 1.09 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the firm posted $0.62 earnings per share. On average, equities research analysts forecast that Manulife Financial Co. will post 2.73 EPS for the current year.

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.86%. The ex-dividend date was Wednesday, August 21st. Manulife Financial’s payout ratio is 66.86%.

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.