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

Oppenheimer & Co. Inc. grew its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.2% in the 4th quarter, Holdings Channel reports. 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 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Franklin Resources Inc. grew its position in shares of Manulife Financial by 16.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider’s stock valued at $61,426,000 after purchasing an additional 279,418 shares during the period. Sanctuary Advisors LLC boosted its holdings in shares of Manulife Financial by 148.9% in the third quarter. Sanctuary Advisors LLC now owns 73,346 shares of the financial services provider’s stock valued at $2,382,000 after buying an additional 43,877 shares during the period. AEGON ASSET MANAGEMENT UK Plc increased its position in shares of Manulife Financial by 14.9% during the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 88,631 shares of the financial services provider’s stock worth $2,719,000 after acquiring an additional 11,509 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Manulife Financial during the third quarter worth $13,318,000. Finally, DRW Securities LLC bought a new stake in Manulife Financial in the 3rd quarter valued at $1,008,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Royal Bank of Canada increased their target price on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Manulife Financial currently has an average rating of “Buy” and an average price target of $45.50.

Manulife Financial Price Performance

Shares of NYSE:MFC opened at $30.61 on Tuesday. The stock has a market capitalization of $52.75 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 1.11 and a beta of 1.09. The company’s 50-day moving average price is $30.35 and its two-hundred day moving average price is $30.05. Manulife Financial Co. has a one year low of $22.61 and a one year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.07. The business had revenue of $9.31 billion for the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. On average, analysts anticipate that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

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

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.