Lombard Odier Asset Management Europe Ltd Increases Position in Manulife Financial Corp $MFC

Lombard Odier Asset Management Europe Ltd lifted its holdings in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 760.0% during the fourth quarter, Holdings Channel reports. The fund owned 687,972 shares of the financial services provider’s stock after purchasing an additional 607,972 shares during the quarter. Manulife Financial accounts for 1.2% of Lombard Odier Asset Management Europe Ltd’s investment portfolio, making the stock its 16th largest holding. Lombard Odier Asset Management Europe Ltd’s holdings in Manulife Financial were worth $25,038,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Hoge Financial Services LLC increased its position in shares of Manulife Financial by 0.9% during the fourth quarter. Hoge Financial Services LLC now owns 31,975 shares of the financial services provider’s stock worth $1,160,000 after acquiring an additional 272 shares during the last quarter. Kathmere Capital Management LLC increased its position in shares of Manulife Financial by 2.0% during the fourth quarter. Kathmere Capital Management LLC now owns 14,421 shares of the financial services provider’s stock worth $523,000 after acquiring an additional 277 shares during the last quarter. Americana Partners LLC increased its position in shares of Manulife Financial by 0.5% during the fourth quarter. Americana Partners LLC now owns 59,081 shares of the financial services provider’s stock worth $2,143,000 after acquiring an additional 295 shares during the last quarter. Bridges Investment Management Inc. increased its position in shares of Manulife Financial by 2.0% during the fourth quarter. Bridges Investment Management Inc. now owns 16,037 shares of the financial services provider’s stock worth $582,000 after acquiring an additional 321 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Manulife Financial by 1.2% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,206 shares of the financial services provider’s stock worth $987,000 after acquiring an additional 329 shares during the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MFC shares. TD Securities reaffirmed a “buy” rating on shares of Manulife Financial in a research report on Thursday, May 14th. Weiss Ratings raised Manulife Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, May 28th. Finally, Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $51.50.

Manulife Financial Stock Up 0.9%

Shares of Manulife Financial stock opened at $41.09 on Wednesday. The firm has a market cap of $68.58 billion, a P/E ratio of 16.31 and a beta of 0.84. Manulife Financial Corp has a fifty-two week low of $29.70 and a fifty-two week high of $41.43. The business has a 50-day moving average price of $38.55 and a 200 day moving average price of $36.85.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, May 13th. The financial services provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.02). The firm had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $2.32 billion. Manulife Financial had a net margin of 10.19% and a return on equity of 16.58%. During the same period in the prior year, the firm earned $0.99 earnings per share. As a group, equities research analysts anticipate that Manulife Financial Corp will post 3.2 earnings per share for the current year.

Manulife Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, May 29th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Friday, May 29th. Manulife Financial’s payout ratio is currently 56.35%.

Manulife Financial Company Profile

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.