Lincluden Management Ltd. Has $70.43 Million Position in Manulife Financial Co. (MFC)

Lincluden Management Ltd. raised its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 2.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,295,406 shares of the financial services provider’s stock after purchasing an additional 88,290 shares during the period. Manulife Financial makes up 4.9% of Lincluden Management Ltd.’s portfolio, making the stock its 6th biggest position. Lincluden Management Ltd.’s holdings in Manulife Financial were worth $70,429,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. BB&T Corp boosted its stake in shares of Manulife Financial by 5.3% during the fourth quarter. BB&T Corp now owns 57,051 shares of the financial services provider’s stock valued at $1,190,000 after purchasing an additional 2,849 shares in the last quarter. Bridge Creek Capital Management LLC boosted its stake in shares of Manulife Financial by 6.5% during the fourth quarter. Bridge Creek Capital Management LLC now owns 53,146 shares of the financial services provider’s stock valued at $1,108,000 after purchasing an additional 3,246 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Manulife Financial by 3.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 92,279 shares of the financial services provider’s stock valued at $1,925,000 after purchasing an additional 3,256 shares in the last quarter. Wade G W & Inc. boosted its stake in shares of Manulife Financial by 0.6% during the third quarter. Wade G W & Inc. now owns 585,012 shares of the financial services provider’s stock valued at $11,870,000 after purchasing an additional 3,278 shares in the last quarter. Finally, Advisor Group Inc. boosted its stake in shares of Manulife Financial by 14.6% during the third quarter. Advisor Group Inc. now owns 27,564 shares of the financial services provider’s stock valued at $559,000 after purchasing an additional 3,502 shares in the last quarter. 46.60% of the stock is currently owned by institutional investors.

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A number of equities analysts have recently issued reports on MFC shares. Scotiabank reiterated a “buy” rating and set a $31.00 price objective on shares of Manulife Financial in a research note on Wednesday, January 31st. Morgan Stanley lowered their target price on shares of Manulife Financial from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, February 22nd. Zacks Investment Research upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Tuesday, February 6th. ValuEngine upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Finally, National Bank Financial upgraded shares of Manulife Financial from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, January 24th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $27.00.

Manulife Financial Co. (NYSE:MFC) opened at $18.55 on Tuesday. The stock has a market cap of $37,012.04, a price-to-earnings ratio of 25.07, a price-to-earnings-growth ratio of 0.95 and a beta of 1.33. Manulife Financial Co. has a fifty-two week low of $16.62 and a fifty-two week high of $22.16.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.01). The company had revenue of $12.79 billion during the quarter. Manulife Financial had a return on equity of 11.49% and a net margin of 3.50%. analysts predict that Manulife Financial Co. will post 2.07 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, March 19th. Shareholders of record on Wednesday, February 21st were issued a $0.175 dividend. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.77%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.16. Manulife Financial’s dividend payout ratio (DPR) is currently 94.59%.

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About Manulife Financial

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.

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

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