Manulife Financial Co. (NYSE:MFC) Stake Decreased by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC cut its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 10.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,850,803 shares of the financial services provider’s stock after selling 467,553 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.22% of Manulife Financial worth $118,247,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MFC. Franklin Resources Inc. grew its stake in shares of Manulife Financial by 16.4% in the third 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 in the last quarter. Sanctuary Advisors LLC lifted its holdings in Manulife Financial by 148.9% in the third quarter. Sanctuary Advisors LLC now owns 73,346 shares of the financial services provider’s stock worth $2,382,000 after purchasing an additional 43,877 shares during the period. Dorsey & Whitney Trust CO LLC bought a new position in Manulife Financial in the 4th quarter valued at about $330,000. AEGON ASSET MANAGEMENT UK Plc increased its stake 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 during the period. Finally, Bank of New York Mellon Corp raised its position in shares of 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 worth $55,578,000 after buying an additional 81,799 shares in the last quarter. 52.56% of the stock is owned by institutional investors.

Manulife Financial Price Performance

NYSE MFC opened at $27.79 on Friday. The company has a market capitalization of $47.87 billion, a P/E ratio of 13.43, a PEG ratio of 1.11 and a beta of 0.89. Manulife Financial Co. has a 12 month low of $22.61 and a 12 month high of $33.07. The company’s 50 day simple moving average is $30.16 and its 200 day simple moving average is $30.50.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced 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. The company had revenue of $9.31 billion during 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 year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.3094 dividend. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.45%. Manulife Financial’s dividend payout ratio (DPR) is 58.45%.

Analysts Set New Price Targets

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

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.