Kestra Private Wealth Services LLC Grows Position in Manulife Financial Co. (NYSE:MFC)

Kestra Private Wealth Services LLC lifted its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 73.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,404 shares of the financial services provider’s stock after purchasing an additional 20,434 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Manulife Financial were worth $1,070,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Anchor Investment Management LLC bought a new position in shares of Manulife Financial in the 4th quarter worth $27,000. Goodman Advisory Group LLC purchased a new stake in Manulife Financial during the fourth quarter valued at about $32,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Manulife Financial during the third quarter worth about $27,000. Trust Co. of Vermont boosted its holdings in shares of Manulife Financial by 478.5% in the 3rd quarter. Trust Co. of Vermont now owns 1,533 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 1,268 shares in the last quarter. Finally, NBC Securities Inc. bought a new position in shares of Manulife Financial during the 3rd quarter valued at about $32,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Price Performance

NYSE MFC opened at $24.02 on Friday. The business’s 50-day moving average is $23.93 and its 200 day moving average is $21.76. The stock has a market capitalization of $43.26 billion, a PE ratio of 12.45, a PEG ratio of 0.88 and a beta of 1.08. Manulife Financial Co. has a 1 year low of $17.07 and a 1 year high of $25.14.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, February 14th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.05. Manulife Financial had a return on equity of 15.98% and a net margin of 10.42%. The firm had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $7.57 billion. As a group, equities research analysts anticipate that Manulife Financial Co. will post 2.7 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, February 28th were issued a $0.298 dividend. The ex-dividend date was Tuesday, February 27th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.26. This represents a $1.19 annualized dividend and a yield of 4.96%. Manulife Financial’s dividend payout ratio is 61.66%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MFC shares. Desjardins upgraded Manulife Financial from a “hold” rating to a “buy” rating in a research report on Thursday, February 15th. BMO Capital Markets raised shares of Manulife Financial from a “market perform” rating to an “outperform” rating and increased their target price for the company from $31.00 to $35.00 in a report on Thursday, February 15th. Finally, Jefferies Financial Group started coverage on shares of Manulife Financial in a research report on Thursday, February 22nd. They set a “buy” rating for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

Manulife Financial Company Profile

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.