Prime Capital Investment Advisors LLC Buys New Stake in Manulife Financial Co. (NYSE:MFC)

Prime Capital Investment Advisors LLC bought a new stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,869 shares of the financial services provider’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MFC. SG Americas Securities LLC purchased a new stake in Manulife Financial in the 1st quarter valued at approximately $142,000. Avantax Advisory Services Inc. purchased a new position in shares of Manulife Financial during the 1st quarter worth $244,000. Kingsview Wealth Management LLC purchased a new position in shares of Manulife Financial during the 1st quarter worth $402,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Manulife Financial by 0.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 882,886 shares of the financial services provider’s stock worth $21,762,000 after purchasing an additional 7,300 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of Manulife Financial during the 1st quarter worth $1,705,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Barclays assumed coverage on Manulife Financial in a research note on Thursday, September 5th. They set an “equal weight” rating on the stock. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $37.50.

Manulife Financial Trading Down 0.6 %

Shares of MFC opened at $32.66 on Monday. The firm has a market capitalization of $57.22 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 1.19 and a beta of 1.08. The stock’s fifty day simple moving average is $29.91 and its 200 day simple moving average is $27.43. Manulife Financial Co. has a twelve month low of $18.80 and a twelve month high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.30. The business had revenue of $10.69 billion for the quarter, compared to analyst estimates of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same period last year, the company posted $0.69 EPS. Sell-side analysts predict that Manulife Financial Co. will post 2.74 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be issued a $0.296 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial’s dividend payout ratio is currently 57.00%.

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.