Manulife Financial Co. (NYSE:MFC) Shares Bought by Focus Partners Wealth

Focus Partners Wealth raised its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 2,178.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 767,847 shares of the financial services provider’s stock after acquiring an additional 734,142 shares during the period. Focus Partners Wealth’s holdings in Manulife Financial were worth $23,592,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC acquired a new stake in Manulife Financial in the fourth quarter valued at approximately $330,000. AEGON ASSET MANAGEMENT UK Plc boosted its stake in Manulife Financial by 14.9% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 88,631 shares of the financial services provider’s stock valued at $2,719,000 after acquiring an additional 11,509 shares in the last quarter. Geode Capital Management LLC boosted its stake in Manulife Financial by 28.7% in the fourth quarter. Geode Capital Management LLC now owns 10,650,598 shares of the financial services provider’s stock valued at $333,291,000 after acquiring an additional 2,377,338 shares in the last quarter. Prudential Financial Inc. boosted its stake in Manulife Financial by 60.4% in the fourth quarter. Prudential Financial Inc. now owns 36,200 shares of the financial services provider’s stock valued at $1,112,000 after acquiring an additional 13,638 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Manulife Financial by 4.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,809,774 shares of the financial services provider’s stock valued at $55,578,000 after acquiring an additional 81,799 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Stock Down 0.8%

MFC stock opened at $30.90 on Monday. The stock has a market capitalization of $52.92 billion, a P/E ratio of 14.93, a P/E/G ratio of 1.11 and a beta of 1.00. The firm has a 50-day simple moving average of $29.82 and a 200-day simple moving average of $30.47. Manulife Financial Co. has a 52 week low of $23.30 and a 52 week high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). The business had revenue of $1.49 billion during the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. During the same period last year, the firm posted $0.94 EPS. On average, analysts expect that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Wednesday, May 21st will be issued a $0.3194 dividend. This represents a $1.28 annualized dividend and a yield of 4.13%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Wednesday, May 21st. Manulife Financial’s payout ratio is presently 63.35%.

Wall Street Analyst Weigh In

Several research firms have recently commented on MFC. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada lifted their price objective on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $45.50.

Manulife Financial 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.