Manulife Financial Corp (MFC) Stake Increased by Addenda Capital Inc.

Addenda Capital Inc. boosted its position in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 5.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,172,738 shares of the financial services provider’s stock after buying an additional 154,754 shares during the period. Manulife Financial Corp accounts for 4.4% of Addenda Capital Inc.’s investment portfolio, making the stock its 5th largest position. Addenda Capital Inc. owned about 0.16% of Manulife Financial Corp worth $59,379,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Creative Planning raised its stake in shares of Manulife Financial Corp by 6.6% in the first quarter. Creative Planning now owns 28,090 shares of the financial services provider’s stock worth $498,000 after buying an additional 1,744 shares during the period. Coastline Trust Co raised its stake in shares of Manulife Financial Corp by 8.3% in the first quarter. Coastline Trust Co now owns 63,120 shares of the financial services provider’s stock worth $1,120,000 after buying an additional 4,850 shares during the period. Huntington National Bank raised its stake in shares of Manulife Financial Corp by 220.4% in the first quarter. Huntington National Bank now owns 10,354 shares of the financial services provider’s stock worth $184,000 after buying an additional 7,122 shares during the period. Korea Investment CORP raised its stake in shares of Manulife Financial Corp by 269.0% in the first quarter. Korea Investment CORP now owns 1,160,497 shares of the financial services provider’s stock worth $20,527,000 after buying an additional 845,997 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of Manulife Financial Corp by 22.9% in the first quarter. Acadian Asset Management LLC now owns 467,700 shares of the financial services provider’s stock worth $8,273,000 after buying an additional 87,200 shares during the period. Hedge funds and other institutional investors own 48.30% of the company’s stock.

Manulife Financial Corp (MFC) opened at 19.94 on Friday. The firm has a market cap of $39.44 billion, a price-to-earnings ratio of 13.67 and a beta of 1.30. Manulife Financial Corp has a one year low of $13.10 and a one year high of $20.84. The firm has a 50 day moving average of $19.88 and a 200-day moving average of $18.40.

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.01. The company had revenue of $12.34 billion for the quarter, compared to analysts’ expectations of $16.09 billion. During the same period in the previous year, the firm posted $0.40 earnings per share. Equities research analysts forecast that Manulife Financial Corp will post $1.77 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Tuesday, August 22nd will be given a dividend of $0.1621 per share. The ex-dividend date of this dividend is Friday, August 18th. This is an increase from Manulife Financial Corp’s previous quarterly dividend of $0.15. This represents a $0.65 dividend on an annualized basis and a yield of 3.25%. Manulife Financial Corp’s payout ratio is presently 43.48%.

MFC has been the topic of a number of analyst reports. National Bank Financial restated a “sector perform overweight” rating on shares of Manulife Financial Corp in a research report on Wednesday, May 3rd. ValuEngine lowered shares of Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub upgraded shares of Manulife Financial Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, Zacks Investment Research upgraded shares of Manulife Financial Corp from a “sell” rating to a “hold” rating and set a $22.00 target price on the stock in a research report on Monday, July 10th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Manulife Financial Corp presently has an average rating of “Buy” and a consensus price target of $23.33.

Manulife Financial Corp Company Profile

Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.