National Bank of Canada FI Has $829.37 Million Stock Holdings in Manulife Financial Co. (NYSE:MFC)

National Bank of Canada FI increased its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 13.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 28,063,936 shares of the financial services provider’s stock after acquiring an additional 3,329,892 shares during the quarter. Manulife Financial accounts for 1.0% of National Bank of Canada FI’s holdings, making the stock its 12th largest position. National Bank of Canada FI’s holdings in Manulife Financial were worth $829,374,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MFC. Toronto Dominion Bank grew its holdings in Manulife Financial by 3.2% during the 2nd quarter. Toronto Dominion Bank now owns 24,057,503 shares of the financial services provider’s stock worth $640,411,000 after acquiring an additional 750,422 shares during the last quarter. 1832 Asset Management L.P. grew its stake in shares of Manulife Financial by 34.3% in the second quarter. 1832 Asset Management L.P. now owns 19,723,609 shares of the financial services provider’s stock worth $525,042,000 after purchasing an additional 5,036,716 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Manulife Financial by 0.5% in the second quarter. Legal & General Group Plc now owns 14,783,400 shares of the financial services provider’s stock worth $393,592,000 after purchasing an additional 75,244 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Manulife Financial by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,186,930 shares of the financial services provider’s stock valued at $153,455,000 after purchasing an additional 158,216 shares during the period. Finally, Acadian Asset Management LLC raised its position in Manulife Financial by 288.4% during the 2nd quarter. Acadian Asset Management LLC now owns 3,943,509 shares of the financial services provider’s stock worth $104,966,000 after purchasing an additional 2,928,316 shares during the last quarter. Institutional investors own 52.56% of the company’s stock.

Analyst Ratings Changes

Separately, Barclays initiated coverage on Manulife Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating on the stock. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $37.50.

Manulife Financial Stock Down 0.6 %

MFC opened at $32.37 on Friday. The stock has a market cap of $56.71 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.19 and a beta of 1.09. Manulife Financial Co. has a twelve month low of $19.74 and a twelve month high of $33.07. The company has a fifty day moving average of $30.97 and a 200-day moving average of $28.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The firm had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same period last year, the company posted $0.69 EPS. Sell-side analysts anticipate that Manulife Financial Co. will post 2.72 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $0.296 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.66%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial’s dividend payout ratio is presently 57.00%.

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.