Scheer Rowlett & Associates Investment Management Ltd. Boosts Stake in Manulife Financial Co. (NYSE:MFC)

Scheer Rowlett & Associates Investment Management Ltd. raised its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,382,077 shares of the financial services provider’s stock after acquiring an additional 14,469 shares during the quarter. Manulife Financial accounts for about 2.8% of Scheer Rowlett & Associates Investment Management Ltd.’s investment portfolio, making the stock its 16th biggest position. Scheer Rowlett & Associates Investment Management Ltd.’s holdings in Manulife Financial were worth $40,841,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Grove Bank & Trust bought a new position in shares of Manulife Financial during the 2nd quarter valued at $25,000. West Financial Advisors LLC acquired a new stake in Manulife Financial in the 3rd quarter worth $26,000. Addison Advisors LLC grew its position in Manulife Financial by 77.2% in the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 467 shares during the last quarter. HHM Wealth Advisors LLC boosted its position in shares of Manulife Financial by 119.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 600 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Manulife Financial during the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Trading Down 2.0 %

Manulife Financial stock traded down $0.64 on Wednesday, hitting $31.93. 208,045 shares of the stock traded hands, compared to its average volume of 2,535,408. Manulife Financial Co. has a 1 year low of $18.91 and a 1 year high of $33.07. The business’s fifty day simple moving average is $30.11 and its 200 day simple moving average is $27.55. The firm has a market cap of $55.94 billion, a P/E ratio of 15.73, a price-to-earnings-growth ratio of 1.19 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.30. The firm had revenue of $10.69 billion for the quarter, compared to the consensus estimate 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 in the previous year, the company posted $0.69 EPS. As a group, analysts predict that Manulife Financial Co. will post 2.74 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be issued a $0.296 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.71%. Manulife Financial’s dividend payout ratio is currently 56.04%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Barclays started coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating for the company. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $37.50.

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.