Daiwa SB Investments Ltd. purchased a new position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the fourth quarter, Holdings Channel reports. The fund purchased 245,790 shares of the financial services provider’s stock, valued at approximately $5,127,000. Manulife Financial comprises about 1.4% of Daiwa SB Investments Ltd.’s investment portfolio, making the stock its 26th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MML Investors Services LLC raised its holdings in shares of Manulife Financial by 1.6% in the second quarter. MML Investors Services LLC now owns 16,014 shares of the financial services provider’s stock worth $300,000 after acquiring an additional 245 shares during the last quarter. M&T Bank Corp raised its holdings in shares of Manulife Financial by 1.8% in the second quarter. M&T Bank Corp now owns 41,840 shares of the financial services provider’s stock worth $785,000 after acquiring an additional 754 shares during the last quarter. D.A. Davidson & CO. raised its holdings in shares of Manulife Financial by 17.5% in the second quarter. D.A. Davidson & CO. now owns 6,768 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 1,010 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Manulife Financial by 7.5% in the second quarter. Private Advisor Group LLC now owns 20,628 shares of the financial services provider’s stock worth $399,000 after acquiring an additional 1,441 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Manulife Financial by 25.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,284 shares of the financial services provider’s stock worth $193,000 after acquiring an additional 2,103 shares during the last quarter. 46.51% of the stock is owned by institutional investors.

A number of research firms have recently weighed in on MFC. Zacks Investment Research raised Manulife Financial from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Tuesday, January 2nd. Morgan Stanley boosted their price target on Manulife Financial from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. Finally, ValuEngine cut Manulife Financial from a “strong-buy” rating to a “buy” rating in a report on Monday, September 18th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $25.00.

Manulife Financial Co. (NYSE MFC) opened at $21.68 on Friday. Manulife Financial Co. has a 1-year low of $16.62 and a 1-year high of $21.76. The firm has a market capitalization of $42,960.00, a price-to-earnings ratio of 14.95, a PEG ratio of 1.12 and a beta of 1.33.

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 19th. Stockholders of record on Tuesday, November 21st were issued a $0.1606 dividend. The ex-dividend date of this dividend was Monday, November 20th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.96%. Manulife Financial’s dividend payout ratio (DPR) is 44.14%.

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Manulife Financial Company Profile

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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