Ritholtz Wealth Management Purchases 25,769 Shares of Manulife Financial Co. (NYSE:MFC)

Ritholtz Wealth Management increased its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 20.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 150,058 shares of the financial services provider’s stock after acquiring an additional 25,769 shares during the period. Ritholtz Wealth Management’s holdings in Manulife Financial were worth $3,316,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MFC. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Manulife Financial during the 3rd quarter worth approximately $27,000. Anchor Investment Management LLC bought a new stake in Manulife Financial during the 4th quarter worth approximately $27,000. Sanctuary Wealth Management L.L.C. purchased a new position in Manulife Financial in the 4th quarter worth approximately $27,000. Trust Co. of Vermont grew its stake in Manulife Financial by 478.5% in the 3rd quarter. Trust Co. of Vermont now owns 1,533 shares of the financial services provider’s stock worth $28,000 after buying an additional 1,268 shares in the last quarter. Finally, Arlington Trust Co LLC purchased a new position in Manulife Financial in the 3rd quarter worth approximately $29,000. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Trading Up 1.3 %

Shares of NYSE MFC opened at $24.98 on Friday. Manulife Financial Co. has a 12 month low of $17.07 and a 12 month high of $25.14. The firm has a market capitalization of $45.11 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 0.91 and a beta of 1.08. The firm has a fifty day simple moving average of $23.29 and a two-hundred day simple moving average of $20.84.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.63 by $0.05. Manulife Financial had a net margin of 10.42% and a return on equity of 15.98%. The business had revenue of $10.96 billion during the quarter, compared to analyst estimates of $7.57 billion. On average, sell-side analysts predict that Manulife Financial Co. will post 2.71 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm 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. This represents a $1.19 annualized dividend and a dividend yield of 4.77%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Tuesday, February 27th. Manulife Financial’s dividend payout ratio (DPR) is presently 61.66%.

Wall Street Analyst Weigh In

MFC has been the subject of a number of research reports. TheStreet raised shares of Manulife Financial from a “c+” rating to a “b” rating in a research note on Thursday, December 21st. BMO Capital Markets raised shares of Manulife Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $31.00 to $35.00 in a research note on Thursday, February 15th. Royal Bank of Canada raised shares of Manulife Financial from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 12th. Desjardins raised shares of Manulife Financial from a “hold” rating to a “buy” rating in a research report on Thursday, February 15th. Finally, Jefferies Financial Group began coverage on shares of Manulife Financial in a research report on Thursday, February 22nd. They set a “buy” rating for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.