Hunting Hill Global Capital LLC Acquires Shares of 6,600 Manulife Financial Co. (NYSE:MFC)

Hunting Hill Global Capital LLC bought a new position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,600 shares of the financial services provider’s stock, valued at approximately $202,000.

Other hedge funds also recently bought and sold shares of the company. Crews Bank & Trust bought a new stake in shares of Manulife Financial in the 4th quarter worth approximately $26,000. Lee Danner & Bass Inc. bought a new stake in Manulife Financial in the fourth quarter valued at $31,000. Stonebridge Financial Group LLC purchased a new position in Manulife Financial during the 4th quarter valued at $34,000. Golden State Wealth Management LLC bought a new position in Manulife Financial in the 4th quarter worth $35,000. Finally, CKW Financial Group purchased a new stake in shares of Manulife Financial in the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Price Performance

NYSE:MFC opened at $28.60 on Monday. Manulife Financial Co. has a 1-year low of $22.96 and a 1-year high of $33.07. The company has a market capitalization of $49.14 billion, a PE ratio of 13.82, a P/E/G ratio of 1.11 and a beta of 0.89. The firm’s 50-day moving average price is $29.73 and its 200-day moving average price is $30.43.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.07. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The business had revenue of $9.31 billion during the quarter. Equities analysts anticipate that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.3094 dividend. This represents a $1.24 annualized dividend and a yield of 4.33%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, March 5th. Manulife Financial’s payout ratio is 58.45%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MFC shares. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. Royal Bank of Canada increased their target price on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $45.50.

About Manulife Financial

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, 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 offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.