PFG Advisors Buys New Shares in Manulife Financial Co. (NYSE:MFC)

PFG Advisors bought a new stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,792 shares of the financial services provider’s stock, valued at approximately $349,000.

Other institutional investors have also added to or reduced their stakes in the company. Anchor Investment Management LLC bought a new position in Manulife Financial in the fourth quarter valued at $27,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Manulife Financial in the third quarter valued at $27,000. Sanctuary Wealth Management L.L.C. bought a new position in shares of Manulife Financial during the fourth quarter valued at about $27,000. Trust Co. of Vermont grew its stake in shares of Manulife Financial by 478.5% during the third quarter. Trust Co. of Vermont now owns 1,533 shares of the financial services provider’s stock valued at $28,000 after buying an additional 1,268 shares during the last quarter. Finally, Arlington Trust Co LLC bought a new position in shares of Manulife Financial during the third quarter valued at about $29,000. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Price Performance

NYSE MFC opened at $24.44 on Wednesday. The stock has a market capitalization of $44.13 billion, a PE ratio of 12.66, a PEG ratio of 0.92 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. The business’s 50-day moving average is $23.51 and its 200 day moving average is $20.98.

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, topping 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 company 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 2.71 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 of this dividend 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 4.88%. Manulife Financial’s dividend payout ratio (DPR) is 61.66%.

Analyst Ratings Changes

MFC has been the topic of a number of recent research reports. Desjardins raised Manulife Financial from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. Jefferies Financial Group initiated coverage on Manulife Financial in a research note 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 raised their price objective for the company from $31.00 to $35.00 in a research note on Thursday, February 15th. TheStreet raised Manulife Financial from a “c+” rating to a “b” rating in a research note on Thursday, December 21st. Finally, Royal Bank of Canada raised Manulife Financial from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 12th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Manulife Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

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.