Intact Investment Management Inc. cut its stake in shares of Manulife Financial Co. (NYSE:MFC – Free Report) (TSE:MFC) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,528,775 shares of the financial services provider’s stock after selling 103,990 shares during the period. Manulife Financial comprises approximately 3.5% of Intact Investment Management Inc.’s investment portfolio, making the stock its 3rd biggest position. Intact Investment Management Inc. owned approximately 0.20% of Manulife Financial worth $93,958,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of MFC. Norges Bank bought a new stake in Manulife Financial during the 4th quarter worth approximately $473,568,000. FIL Ltd grew its stake in shares of Manulife Financial by 750.5% in the fourth quarter. FIL Ltd now owns 9,910,281 shares of the financial services provider’s stock worth $218,990,000 after purchasing an additional 8,745,071 shares during the last quarter. Toronto Dominion Bank increased its holdings in Manulife Financial by 57.9% in the first quarter. Toronto Dominion Bank now owns 23,307,081 shares of the financial services provider’s stock valued at $582,444,000 after purchasing an additional 8,548,114 shares during the period. TD Asset Management Inc raised its position in Manulife Financial by 26.5% during the 4th quarter. TD Asset Management Inc now owns 37,066,418 shares of the financial services provider’s stock worth $823,074,000 after purchasing an additional 7,766,870 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in Manulife Financial by 103.1% during the 1st quarter. 1832 Asset Management L.P. now owns 14,686,893 shares of the financial services provider’s stock worth $367,025,000 after buying an additional 7,456,712 shares during the period. 52.56% of the stock is currently owned by institutional investors.
Manulife Financial Price Performance
Shares of NYSE:MFC opened at $27.61 on Friday. Manulife Financial Co. has a 1 year low of $17.07 and a 1 year high of $27.75. The business’s 50-day moving average is $26.23 and its 200-day moving average is $25.19. The company has a market capitalization of $49.10 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 1.02 and a beta of 1.09.
Manulife Financial Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, August 21st will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.20%. The ex-dividend date is Wednesday, August 21st. Manulife Financial’s dividend payout ratio is presently 67.44%.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. National Bank Financial raised Manulife Financial from a “sector perform” rating to an “outperform” rating in a research note on Thursday, May 9th. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Finally, TD Securities raised their price target on shares of Manulife Financial from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, June 28th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $35.67.
Get Our Latest Stock Analysis on MFC
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.
See Also
- Five stocks we like better than Manulife Financial
- How to Know if a Stock Pays Dividends and When They Are Paid Out
- Birkenstock’s Sudden Slide—Why It Might Be Your Next Big Win
- The Basics of Support and Resistance
- MarketBeat Week in Review – 8/26 – 8/30
- Stocks with Unusual Volume: How to Find Unusual Volume Stocks in Real Time
- Veeva’s Stock Jumps on Stellar Q2 Results—Don’t Miss Out
Want to see what other hedge funds are holding MFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manulife Financial Co. (NYSE:MFC – Free Report) (TSE:MFC).
Receive News & Ratings for Manulife Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manulife Financial and related companies with MarketBeat.com's FREE daily email newsletter.