Sanctuary Advisors LLC Raises Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Sanctuary Advisors LLC lifted its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 148.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 73,346 shares of the financial services provider’s stock after buying an additional 43,877 shares during the quarter. Sanctuary Advisors LLC’s holdings in Manulife Financial were worth $2,382,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Manulife Financial by 1,210.7% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,161,059 shares of the financial services provider’s stock worth $30,922,000 after buying an additional 1,072,474 shares during the period. Legal & General Group Plc raised its holdings 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 buying an additional 75,244 shares during the period. Teachers Retirement System of The State of Kentucky bought a new position in Manulife Financial in the third quarter worth approximately $13,318,000. DRW Securities LLC bought a new position in Manulife Financial in the third quarter worth approximately $1,008,000. Finally, Toronto Dominion Bank grew its stake in Manulife Financial by 3.2% in the second quarter. Toronto Dominion Bank now owns 24,057,503 shares of the financial services provider’s stock worth $640,411,000 after purchasing an additional 750,422 shares in the last quarter. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Manulife Financial Stock Down 1.0 %

Shares of NYSE:MFC opened at $30.73 on Wednesday. The stock has a market cap of $53.84 billion, a P/E ratio of 14.85, a price-to-earnings-growth ratio of 1.16 and a beta of 1.09. The business’s 50 day moving average is $31.23 and its 200 day moving average is $28.39. Manulife Financial Co. has a 52-week low of $20.78 and a 52-week high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.30. The business had revenue of $10.69 billion for the quarter, compared to analysts’ expectations of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same quarter last year, the firm earned $0.69 EPS. On average, sell-side analysts anticipate that Manulife Financial Co. will post 2.72 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.296 per share. This represents a $1.18 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend is Wednesday, November 20th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s dividend payout ratio (DPR) is 57.00%.

Analyst Upgrades and Downgrades

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

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.