Manulife Financial Co. (NYSE:MFC) is OPTIMAS CAPITAL Ltd’s 2nd Largest Position

OPTIMAS CAPITAL Ltd trimmed its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 10.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 211,100 shares of the financial services provider’s stock after selling 25,200 shares during the quarter. Manulife Financial accounts for 8.7% of OPTIMAS CAPITAL Ltd’s holdings, making the stock its 2nd largest holding. OPTIMAS CAPITAL Ltd’s holdings in Manulife Financial were worth $6,483,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Franklin Resources Inc. lifted its stake in shares of Manulife Financial by 16.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider’s stock worth $61,426,000 after purchasing an additional 279,418 shares during the last quarter. Sanctuary Advisors LLC increased its position in Manulife Financial by 148.9% during the 3rd 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 in the last quarter. Dorsey & Whitney Trust CO LLC acquired a new position in Manulife Financial during the 4th quarter valued at about $330,000. AEGON ASSET MANAGEMENT UK Plc increased its position in Manulife Financial by 14.9% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 88,631 shares of the financial services provider’s stock valued at $2,719,000 after buying an additional 11,509 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Manulife Financial by 4.7% during the 4th quarter. Bank of New York Mellon Corp now owns 1,809,774 shares of the financial services provider’s stock valued at $55,578,000 after buying an additional 81,799 shares in the last quarter. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MFC has been the topic of a number of research reports. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada increased their price objective on Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 21st. One 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, the company currently has an average rating of “Buy” and a consensus target price of $45.50.

Manulife Financial Stock Up 2.3 %

Manulife Financial stock opened at $30.14 on Tuesday. The firm has a market cap of $51.91 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a 52 week low of $22.61 and a 52 week high of $33.07. The business’s 50-day moving average price is $30.06 and its 200 day moving average price is $30.23.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.67 by $0.07. The firm 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%. Equities analysts expect that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.3094 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a yield of 4.11%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s dividend payout ratio is currently 58.45%.

About Manulife Financial

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.