Deutsche Bank AG increased its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 14.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,909,644 shares of the financial services provider’s stock after buying an additional 377,330 shares during the period. Deutsche Bank AG’s holdings in Manulife Financial were worth $60,691,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of MFC. Mackenzie Financial Corp lifted its position in shares of Manulife Financial by 270.1% in the fourth quarter. Mackenzie Financial Corp now owns 49,553,149 shares of the financial services provider’s stock worth $1,033,679,000 after buying an additional 36,162,505 shares in the last quarter. USS Investment Management Ltd purchased a new stake in Manulife Financial during the third quarter valued at approximately $158,409,000. JPMorgan Chase & Co. raised its position in Manulife Financial by 61.3% during the third quarter. JPMorgan Chase & Co. now owns 9,499,145 shares of the financial services provider’s stock valued at $192,643,000 after purchasing an additional 3,610,444 shares during the period. The Manufacturers Life Insurance Company raised its position in Manulife Financial by 121.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,796,263 shares of the financial services provider’s stock valued at $58,330,000 after purchasing an additional 1,531,905 shares during the period. Finally, Great West Life Assurance Co. Can raised its position in Manulife Financial by 7.5% during the third quarter. Great West Life Assurance Co. Can now owns 21,013,888 shares of the financial services provider’s stock valued at $425,407,000 after purchasing an additional 1,463,511 shares during the period. Institutional investors own 48.39% of the company’s stock.
A number of brokerages have issued reports on MFC. ValuEngine upgraded Manulife Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Zacks Investment Research downgraded Manulife Financial from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. Morgan Stanley decreased their price objective on Manulife Financial from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 22nd. Scotiabank restated a “buy” rating and set a $31.00 price objective on shares of Manulife Financial in a research report on Wednesday, January 31st. Finally, National Bank Financial upgraded Manulife Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 24th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Manulife Financial has an average rating of “Buy” and an average target price of $27.00.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 19th. Shareholders of record on Wednesday, February 21st will be given a dividend of $0.175 per share. The ex-dividend date is Tuesday, February 20th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.16. This represents a $0.70 dividend on an annualized basis and a yield of 3.76%. Manulife Financial’s dividend payout ratio is 94.59%.
TRADEMARK VIOLATION NOTICE: “Manulife Financial Co. (MFC) Shares Bought by Deutsche Bank AG” was originally reported by Markets Daily and is the property of of Markets Daily. If you are reading this piece of content on another site, it was stolen and republished in violation of US & international trademark and copyright law. The original version of this piece of content can be viewed at https://www.themarketsdaily.com/2018/03/14/manulife-financial-co-mfc-shares-bought-by-deutsche-bank-ag.html.
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.
Want to see what other hedge funds are holding MFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manulife Financial Co. (NYSE:MFC) (TSE:MFC).
Receive News & Ratings for Manulife Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manulife Financial and related companies with MarketBeat.com's FREE daily email newsletter.