Oppenheimer & Co. Inc. Has $1.76 Million Stake in Manulife Financial Co. (NYSE:MFC)

Oppenheimer & Co. Inc. raised its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,316 shares of the financial services provider’s stock after purchasing an additional 655 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Manulife Financial were worth $1,760,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. National Bank of Canada FI raised its holdings in shares of Manulife Financial by 13.5% in the third quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider’s stock valued at $829,374,000 after buying an additional 3,329,892 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Manulife Financial by 8.1% in the third quarter. Geode Capital Management LLC now owns 8,273,260 shares of the financial services provider’s stock worth $247,473,000 after acquiring an additional 616,517 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Manulife Financial by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,186,930 shares of the financial services provider’s stock worth $153,455,000 after purchasing an additional 158,216 shares in the last quarter. Alberta Investment Management Corp grew its stake in shares of Manulife Financial by 5.1% during the fourth quarter. Alberta Investment Management Corp now owns 4,896,049 shares of the financial services provider’s stock valued at $150,333,000 after purchasing an additional 236,808 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Manulife Financial by 1.8% in the third quarter. The Manufacturers Life Insurance Company now owns 2,035,663 shares of the financial services provider’s stock valued at $60,202,000 after purchasing an additional 36,838 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Performance

Shares of Manulife Financial stock opened at $30.61 on Tuesday. The firm has a fifty day moving average of $30.35 and a two-hundred day moving average of $30.05. The stock has a market capitalization of $52.75 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 1.11 and a beta of 1.09. Manulife Financial Co. has a 52 week low of $22.61 and a 52 week high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.07. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The business had revenue of $9.31 billion during the quarter. As a group, research analysts forecast that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.3094 per share. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, March 5th. This represents a $1.24 annualized dividend and a yield of 4.04%. Manulife Financial’s dividend payout ratio (DPR) is presently 58.45%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MFC shares. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada raised their price target on Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $45.50.

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.