Metis Global Partners LLC Has $2.45 Million Stake in Manulife Financial Co. (NYSE:MFC)

Metis Global Partners LLC increased its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 79,627 shares of the financial services provider’s stock after buying an additional 4,904 shares during the period. Metis Global Partners LLC’s holdings in Manulife Financial were worth $2,446,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MFC. Crews Bank & Trust acquired a new position in Manulife Financial during the fourth quarter worth $26,000. Brooklyn Investment Group bought a new stake in shares of Manulife Financial during the 3rd quarter worth about $26,000. Capital Performance Advisors LLP acquired a new position in shares of Manulife Financial during the 3rd quarter valued at about $30,000. Stonebridge Financial Group LLC bought a new position in shares of Manulife Financial in the 4th quarter valued at approximately $34,000. Finally, Golden State Wealth Management LLC acquired a new stake in Manulife Financial in the 4th quarter worth approximately $35,000. Institutional investors own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

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

Manulife Financial Stock Up 1.2 %

Manulife Financial stock opened at $31.15 on Monday. The business has a 50 day moving average price of $30.35 and a two-hundred day moving average price of $30.02. Manulife Financial Co. has a 12 month low of $22.61 and a 12 month high of $33.07. The stock has a market cap of $53.67 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 1.11 and a beta of 1.09.

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

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.3094 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.97%. Manulife Financial’s dividend payout ratio (DPR) is presently 58.45%.

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.