Team Hewins LLC Takes Position in Manulife Financial Co. (NYSE:MFC)

Team Hewins LLC purchased a new stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 26,771 shares of the financial services provider’s stock, valued at approximately $592,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Anchor Investment Management LLC acquired a new position in shares of Manulife Financial in the 4th quarter valued at $27,000. Trust Co. of Vermont boosted 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 purchasing an additional 1,268 shares during the period. NBC Securities Inc. acquired a new position in Manulife Financial in the 3rd quarter worth $32,000. Goodman Advisory Group LLC acquired a new position in Manulife Financial in the 4th quarter worth $32,000. Finally, JFS Wealth Advisors LLC boosted its stake in Manulife Financial by 72.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,568 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 661 shares during the period. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Up 1.6 %

Shares of MFC stock traded up $0.41 on Friday, reaching $26.55. The stock had a trading volume of 1,541,098 shares, compared to its average volume of 3,266,671. The firm’s 50-day moving average is $24.44 and its two-hundred day moving average is $22.58. The firm has a market capitalization of $47.68 billion, a price-to-earnings ratio of 15.21, a P/E/G ratio of 0.96 and a beta of 1.08. Manulife Financial Co. has a 12 month low of $17.07 and a 12 month high of $26.81.

Manulife Financial Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd will be issued a $0.29 dividend. The ex-dividend date is Tuesday, May 21st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.37%. Manulife Financial’s payout ratio is 67.44%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MFC. BMO Capital Markets raised shares of Manulife Financial from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $31.00 to $35.00 in a research note on Thursday, February 15th. National Bank Financial upgraded shares of Manulife Financial from a “sector perform” rating to an “outperform” rating in a research note on Thursday, May 9th. Jefferies Financial Group started coverage on shares of Manulife Financial in a research note on Thursday, February 22nd. They set a “buy” rating for the company. Finally, Desjardins upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.33.

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.