Quantitative Systematic Strategies LLC Buys Shares of 52,050 Manulife Financial Co. (MFC)

Quantitative Systematic Strategies LLC bought a new stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 52,050 shares of the financial services provider’s stock, valued at approximately $967,000.

A number of other large investors have also recently added to or reduced their stakes in MFC. Mackenzie Financial Corp lifted its holdings in shares of Manulife Financial by 270.1% during the 4th quarter. Mackenzie Financial Corp now owns 49,553,149 shares of the financial services provider’s stock worth $1,033,679,000 after acquiring an additional 36,162,505 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Manulife Financial by 38.3% during the 1st quarter. CIBC Asset Management Inc now owns 31,217,867 shares of the financial services provider’s stock worth $578,718,000 after acquiring an additional 8,644,773 shares during the period. Scotia Capital Inc. lifted its holdings in shares of Manulife Financial by 8.2% during the 4th quarter. Scotia Capital Inc. now owns 10,066,893 shares of the financial services provider’s stock worth $209,988,000 after acquiring an additional 764,012 shares during the period. APG Asset Management N.V. lifted its holdings in shares of Manulife Financial by 1.6% during the 4th quarter. APG Asset Management N.V. now owns 7,483,238 shares of the financial services provider’s stock worth $130,416,000 after acquiring an additional 118,000 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Manulife Financial by 30.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 6,846,084 shares of the financial services provider’s stock worth $127,200,000 after acquiring an additional 1,601,126 shares during the period. Institutional investors own 47.15% of the company’s stock.

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NYSE MFC opened at $19.43 on Friday. Manulife Financial Co. has a one year low of $19.34 and a one year high of $19.51. The company has a market capitalization of $38.12 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 1.00 and a beta of 1.34.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.01). Manulife Financial had a net margin of 3.93% and a return on equity of 12.00%. The business had revenue of $12.79 billion during the quarter. equities analysts expect that Manulife Financial Co. will post 2.03 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 19th. Investors of record on Tuesday, May 15th will be issued a $0.171 dividend. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.13. The ex-dividend date is Monday, May 14th. This represents a $0.68 annualized dividend and a yield of 3.52%. Manulife Financial’s dividend payout ratio (DPR) is presently 40.94%.

Several research analysts have recently weighed in on the stock. CIBC upgraded shares of Manulife Financial from a “neutral” rating to a “sector outperform” rating in a report on Thursday, May 3rd. Zacks Investment Research upgraded shares of Manulife Financial from a “sell” rating to a “hold” rating in a report on Monday, April 30th. TD Securities upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating in a report on Thursday, April 12th. Morgan Stanley cut their price objective on shares of Manulife Financial from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, April 5th. Finally, ValuEngine upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $26.67.

Manulife Financial 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.

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