Aigen Investment Management LP Makes New Investment in Manulife Financial Co. (NYSE:MFC)

Aigen Investment Management LP acquired a new position in shares of Manulife Financial Co. (NYSE:MFCFree Report) (TSE:MFC) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 34,701 shares of the financial services provider’s stock, valued at approximately $767,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MFC. Anchor Investment Management LLC acquired a new position in Manulife Financial during the fourth quarter worth $27,000. Trust Co. of Vermont boosted its stake in Manulife Financial by 478.5% during the third quarter. Trust Co. of Vermont now owns 1,533 shares of the financial services provider’s stock worth $28,000 after buying an additional 1,268 shares during the last quarter. NBC Securities Inc. acquired a new position in Manulife Financial during the third quarter worth $32,000. Goodman Advisory Group LLC acquired a new position in Manulife Financial during the fourth quarter worth $32,000. Finally, JFS Wealth Advisors LLC boosted its stake in Manulife Financial by 72.9% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,568 shares of the financial services provider’s stock worth $35,000 after buying an additional 661 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Up 0.4 %

NYSE MFC traded up $0.11 during trading hours on Wednesday, hitting $26.48. 767,364 shares of the company were exchanged, compared to its average volume of 3,264,388. The company has a 50 day moving average of $24.36 and a two-hundred day moving average of $22.53. Manulife Financial Co. has a 52-week low of $17.07 and a 52-week high of $26.81. The firm has a market cap of $47.55 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 0.97 and a beta of 1.08.

Manulife Financial Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $1.16 annualized dividend and a yield of 4.38%. Manulife Financial’s dividend payout ratio (DPR) is 69.19%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. BMO Capital Markets raised Manulife Financial from a “market perform” rating to an “outperform” rating and upped their price target for the company from $31.00 to $35.00 in a research note on Thursday, February 15th. National Bank Financial raised Manulife Financial from a “sector perform” rating to an “outperform” rating in a research note on Thursday, May 9th. Jefferies Financial Group started coverage on Manulife Financial in a research note on Thursday, February 22nd. They issued a “buy” rating on the stock. Finally, Desjardins upgraded Manulife Financial from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

View Our Latest Report on MFC

Manulife Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Manulife Financial (NYSE:MFC)

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