Manulife Financial Co. (NYSE:MFC) Stake Increased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,334,413 shares of the financial services provider’s stock after buying an additional 190,738 shares during the quarter. Manulife Financial comprises 1.6% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 13th largest position. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.66% of Manulife Financial worth $347,757,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in Manulife Financial in the third quarter worth $26,000. Crews Bank & Trust acquired a new stake in shares of Manulife Financial in the fourth quarter valued at $26,000. Capital Performance Advisors LLP bought a new position in shares of Manulife Financial during the 3rd quarter valued at about $30,000. Stonebridge Financial Group LLC acquired a new position in Manulife Financial in the fourth quarter worth approximately $34,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Manulife Financial in the 4th quarter worth $35,000. 52.56% of the stock is currently owned by institutional investors.

Manulife Financial Price Performance

Shares of MFC opened at $28.66 on Wednesday. The company has a market capitalization of $49.38 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. The company’s fifty day moving average price is $30.17 and its 200 day moving average price is $30.18. Manulife Financial Co. has a one year low of $22.61 and a one year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.07. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The business had revenue of $9.31 billion for the quarter. Analysts anticipate that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.3094 dividend. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 4.32%. The ex-dividend date is Wednesday, March 5th. Manulife Financial’s dividend payout ratio (DPR) is 58.45%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MFC. Royal Bank of Canada lifted their price objective on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Manulife Financial currently has an average rating of “Buy” and an average target price of $45.50.

Manulife Financial Company 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.