Artemis Investment Management LLP Has $40.82 Million Holdings in Manulife Financial Co. (NYSE:MFC)

Artemis Investment Management LLP increased its position in shares of Manulife Financial Co. (NYSE:MFCGet Rating) (TSE:MFC) by 244.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,914,026 shares of the financial services provider’s stock after acquiring an additional 1,358,905 shares during the quarter. Artemis Investment Management LLP’s holdings in Manulife Financial were worth $40,820,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its stake in Manulife Financial by 9.1% in the 4th quarter. Russell Investments Group Ltd. now owns 2,254,585 shares of the financial services provider’s stock valued at $43,032,000 after buying an additional 187,234 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Manulife Financial by 0.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 12,213,095 shares of the financial services provider’s stock valued at $232,904,000 after buying an additional 49,144 shares during the period. Geode Capital Management LLC increased its stake in shares of Manulife Financial by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 5,514,978 shares of the financial services provider’s stock worth $105,051,000 after purchasing an additional 353,864 shares during the last quarter. Brinker Capital Investments LLC increased its stake in shares of Manulife Financial by 12.3% during the 4th quarter. Brinker Capital Investments LLC now owns 11,825 shares of the financial services provider’s stock worth $226,000 after purchasing an additional 1,299 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. increased its stake in shares of Manulife Financial by 3.2% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 64,854 shares of the financial services provider’s stock worth $1,238,000 after purchasing an additional 2,039 shares during the last quarter. Institutional investors and hedge funds own 47.04% of the company’s stock.

Several research analysts have recently commented on MFC shares. BMO Capital Markets lowered shares of Manulife Financial from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 12th. Canaccord Genuity Group lowered shares of Manulife Financial from a “buy” rating to a “hold” rating in a research note on Friday, May 13th. Canaccord Genuity Group downgraded shares of Manulife Financial from a “buy” rating to a “hold” rating in a report on Friday, May 13th. Scotiabank decreased their price objective on shares of Manulife Financial from C$28.00 to C$27.00 in a report on Friday, May 13th. Finally, Royal Bank of Canada decreased their price objective on shares of Manulife Financial from C$29.00 to C$26.00 in a report on Friday, May 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $30.44.

NYSE:MFC opened at $17.52 on Friday. The company has a 50-day moving average of $18.10 and a 200-day moving average of $19.59. The company has a market capitalization of $33.61 billion, a price-to-earnings ratio of 4.71, a PEG ratio of 0.66 and a beta of 1.23. Manulife Financial Co. has a 52 week low of $16.27 and a 52 week high of $22.19.

Manulife Financial (NYSE:MFCGet Rating) (TSE:MFC) last released its quarterly earnings data on Wednesday, May 11th. The financial services provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.05). The firm had revenue of $11.77 billion for the quarter, compared to the consensus estimate of $14.82 billion. As a group, equities research analysts predict that Manulife Financial Co. will post 2.56 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 20th. Stockholders of record on Wednesday, May 25th were issued a dividend of $0.257 per share. This represents a $1.03 dividend on an annualized basis and a dividend yield of 5.87%. The ex-dividend date of this dividend was Tuesday, May 24th. Manulife Financial’s payout ratio is 27.69%.

Manulife Financial Company Profile (Get Rating)

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, 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 provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks.

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

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