Wealth Alliance Raises Stock Position in Manulife Financial Co. (NYSE:MFC)

Wealth Alliance boosted its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,677 shares of the financial services provider’s stock after purchasing an additional 938 shares during the period. Wealth Alliance’s holdings in Manulife Financial were worth $700,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MFC. Advisory Services Network LLC lifted its position in shares of Manulife Financial by 2.6% during the 1st quarter. Advisory Services Network LLC now owns 21,796 shares of the financial services provider’s stock worth $400,000 after buying an additional 543 shares during the last quarter. Blue Trust Inc. raised its position in Manulife Financial by 5.7% in the 4th quarter. Blue Trust Inc. now owns 10,465 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 568 shares during the last quarter. First Affirmative Financial Network raised its position in Manulife Financial by 6.0% in the 4th quarter. First Affirmative Financial Network now owns 10,604 shares of the financial services provider’s stock valued at $234,000 after purchasing an additional 600 shares during the last quarter. Advisor Partners II LLC raised its position in Manulife Financial by 1.9% in the 3rd quarter. Advisor Partners II LLC now owns 32,217 shares of the financial services provider’s stock valued at $589,000 after purchasing an additional 610 shares during the last quarter. Finally, Brinker Capital Investments LLC raised its position in Manulife Financial by 5.3% during the 1st quarter. Brinker Capital Investments LLC now owns 12,449 shares of the financial services provider’s stock worth $266,000 after buying an additional 624 shares during the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Trading Up 0.2 %

NYSE:MFC opened at $22.82 on Thursday. The firm has a market cap of $41.09 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 0.84 and a beta of 1.08. The company’s 50-day moving average is $23.97 and its two-hundred day moving average is $21.38. Manulife Financial Co. has a 12-month low of $17.07 and a 12-month high of $25.14.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released 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 net margin of 10.42% and a return on equity of 15.98%. The business had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $7.57 billion. On average, equities research analysts forecast that Manulife Financial Co. will post 2.71 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, February 28th were given a $0.298 dividend. The ex-dividend date was Tuesday, February 27th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.26. This represents a $1.19 annualized dividend and a dividend yield of 5.22%. Manulife Financial’s dividend payout ratio (DPR) is currently 61.66%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. BMO Capital Markets upgraded shares of Manulife Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $31.00 to $35.00 in a research report on Thursday, February 15th. TheStreet upgraded shares of Manulife Financial from a “c+” rating to a “b” rating in a research report on Thursday, December 21st. 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. Finally, Desjardins raised shares of Manulife Financial from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Manulife Financial presently has a consensus rating of “Moderate Buy” and an average target price of $33.33.

About Manulife Financial

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.