Charles Schwab Investment Management Inc. Has $153.46 Million Stock Position in Manulife Financial Co. (NYSE:MFC)

Charles Schwab Investment Management Inc. increased its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 3.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,186,930 shares of the financial services provider’s stock after acquiring an additional 158,216 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Manulife Financial were worth $153,455,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Manulife Financial by 1,210.7% during the 2nd 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 period. Legal & General Group Plc grew its holdings in shares of 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 valued at $393,592,000 after buying an additional 75,244 shares in the last quarter. Toronto Dominion Bank raised its position in Manulife Financial by 3.2% during 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 buying an additional 750,422 shares during the period. Sumitomo Life Insurance Co. purchased a new stake in Manulife Financial in the 2nd quarter worth about $794,000. Finally, International Assets Investment Management LLC acquired a new stake in Manulife Financial during the 3rd quarter worth about $956,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Down 0.6 %

NYSE MFC opened at $32.47 on Monday. The company has a 50 day moving average price of $30.38 and a two-hundred day moving average price of $27.72. Manulife Financial Co. has a 12-month low of $19.13 and a 12-month high of $33.07. The stock has a market capitalization of $56.88 billion, a PE ratio of 15.69, 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 (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.30. The business had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.73 billion. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. During the same quarter in the previous year, the business earned $0.69 EPS. As a group, equities analysts anticipate that Manulife Financial Co. will post 2.74 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.296 per share. This is a positive change 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 dividend yield of 3.65%. Manulife Financial’s dividend payout ratio is currently 57.00%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Barclays began coverage on shares of Manulife Financial in a research note on Thursday, September 5th. They set an “equal weight” rating for the company. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $37.50.

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.