Allspring Global Investments Holdings LLC Has $13.90 Million Stake in Manulife Financial Corp (NYSE:MFC)

Allspring Global Investments Holdings LLC lifted its position in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 4.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 437,523 shares of the financial services provider’s stock after buying an additional 16,873 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Manulife Financial were worth $13,896,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Lee Danner & Bass Inc. acquired a new stake in Manulife Financial during the 4th quarter worth about $31,000. Lazard Asset Management LLC bought a new stake in Manulife Financial in the fourth quarter worth approximately $35,000. Transce3nd LLC acquired a new position in Manulife Financial in the fourth quarter valued at approximately $42,000. Millstone Evans Group LLC acquired a new position in Manulife Financial in the fourth quarter valued at approximately $44,000. Finally, Graney & King LLC bought a new position in shares of Manulife Financial during the 4th quarter worth approximately $53,000. Institutional investors own 52.56% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley set a $46.00 price objective on shares of Manulife Financial in a research note on Monday, May 19th.

Manulife Financial Price Performance

Shares of Manulife Financial stock opened at $31.46 on Thursday. Manulife Financial Corp has a one year low of $23.30 and a one year high of $33.07. The firm has a market capitalization of $53.73 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.09 and a beta of 0.99. The business has a 50-day simple moving average of $31.44 and a 200 day simple moving average of $30.49.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). Manulife Financial had a net margin of 9.58% and a return on equity of 15.84%. The firm had revenue of $1.49 billion during the quarter. During the same period in the previous year, the business earned $0.94 earnings per share. On average, sell-side analysts expect that Manulife Financial Corp will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Wednesday, May 21st were paid a dividend of $0.3194 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend was Wednesday, May 21st. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.31. Manulife Financial’s payout ratio is 67.02%.

Manulife Financial 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.