Manulife Financial Co. (NYSE:MFC) Shares Bought by Cerity Partners LLC

Cerity Partners LLC grew its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 46.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,795 shares of the financial services provider’s stock after purchasing an additional 16,076 shares during the period. Cerity Partners LLC’s holdings in Manulife Financial were worth $1,122,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Sequoia Financial Advisors LLC increased its holdings in shares of Manulife Financial by 152.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 113,333 shares of the financial services provider’s stock valued at $2,505,000 after purchasing an additional 68,406 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Manulife Financial during the fourth quarter valued at $1,846,000. Americana Partners LLC boosted its stake in Manulife Financial by 157.6% during the fourth quarter. Americana Partners LLC now owns 81,372 shares of the financial services provider’s stock valued at $1,798,000 after buying an additional 49,784 shares in the last quarter. Grimes & Company Inc. boosted its stake in Manulife Financial by 18.5% during the fourth quarter. Grimes & Company Inc. now owns 29,748 shares of the financial services provider’s stock valued at $657,000 after buying an additional 4,645 shares in the last quarter. Finally, Addenda Capital Inc. grew its holdings in Manulife Financial by 1.1% during the fourth quarter. Addenda Capital Inc. now owns 1,568,883 shares of the financial services provider’s stock worth $34,672,000 after acquiring an additional 17,673 shares during the period. 52.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Manulife Financial Trading Up 0.6 %

Shares of MFC opened at $23.07 on Monday. The business’s 50-day moving average price is $23.99 and its 200 day moving average price is $21.48. The stock has a market capitalization of $41.55 billion, a P/E ratio of 11.95, a P/E/G ratio of 0.85 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 issued its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. The firm had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $7.57 billion. Manulife Financial had a return on equity of 15.98% and a net margin of 10.42%. On average, research analysts predict that Manulife Financial Co. will post 2.71 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, February 28th were paid a $0.298 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.19 dividend on an annualized basis and a yield of 5.17%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.26. Manulife Financial’s dividend payout ratio (DPR) is currently 61.66%.

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.