Manulife Financial Co. (NYSE:MFC) Shares Bought by PCJ Investment Counsel Ltd.

PCJ Investment Counsel Ltd. raised its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 9.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 247,211 shares of the financial services provider’s stock after acquiring an additional 21,420 shares during the period. Manulife Financial makes up approximately 2.3% of PCJ Investment Counsel Ltd.’s holdings, making the stock its 11th biggest holding. PCJ Investment Counsel Ltd.’s holdings in Manulife Financial were worth $7,305,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Grove Bank & Trust acquired a new stake in Manulife Financial in the second quarter valued at approximately $25,000. West Financial Advisors LLC acquired a new stake in shares of Manulife Financial during the third quarter worth $26,000. Addison Advisors LLC lifted its stake in shares of Manulife Financial by 77.2% during the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock worth $29,000 after buying an additional 467 shares during the period. HHM Wealth Advisors LLC lifted its stake in shares of Manulife Financial by 119.0% during the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock worth $29,000 after buying an additional 600 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Manulife Financial during the third quarter worth $30,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MFC has been the subject of several research reports. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Barclays began coverage on shares of Manulife Financial in a report on Thursday, September 5th. They set an “equal weight” rating for the company. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $37.50.

Manulife Financial Price Performance

Shares of Manulife Financial stock opened at $32.57 on Wednesday. The firm has a fifty day moving average price of $30.11 and a 200 day moving average price of $27.55. Manulife Financial Co. has a 1 year low of $18.91 and a 1 year high of $33.07. The stock has a market cap of $57.06 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 1.19 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.30. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The company had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $9.73 billion. During the same quarter in the previous year, the company earned $0.69 earnings per share. As a group, equities analysts expect that Manulife Financial Co. will post 2.74 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be issued a $0.296 dividend. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, November 20th. This represents a $1.18 dividend on an annualized basis and a yield of 3.64%. Manulife Financial’s payout ratio is presently 56.04%.

Manulife Financial Company 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.