Kingswood Wealth Advisors LLC purchased a new stake in shares of Manulife Financial Co. (NYSE:MFC – Free Report) (TSE:MFC) in the fourth quarter, HoldingsChannel reports. The firm purchased 11,385 shares of the financial services provider’s stock, valued at approximately $350,000.
Several other large investors have also recently made changes to their positions in the stock. Franklin Resources Inc. raised its position in Manulife Financial by 16.4% in the third quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider’s stock valued at $61,426,000 after purchasing an additional 279,418 shares during the period. Sanctuary Advisors LLC lifted its stake in Manulife Financial by 148.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 73,346 shares of the financial services provider’s stock worth $2,382,000 after acquiring an additional 43,877 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc lifted its stake in Manulife Financial by 14.9% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 88,631 shares of the financial services provider’s stock worth $2,719,000 after acquiring an additional 11,509 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in Manulife Financial during the 3rd quarter valued at about $13,318,000. Finally, DRW Securities LLC acquired a new position in Manulife Financial in the 3rd quarter valued at about $1,008,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.
Manulife Financial Stock Performance
Shares of MFC opened at $29.90 on Friday. The company’s 50-day simple moving average is $30.95 and its 200-day simple moving average is $29.31. Manulife Financial Co. has a 1 year low of $21.54 and a 1 year high of $33.07. The stock has a market capitalization of $51.69 billion, a PE ratio of 14.44, a P/E/G ratio of 1.05 and a beta of 1.09.
Manulife Financial (NYSE:MFC – Get Free Report) (TSE:MFC) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.70 by $0.30. The company had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $9.73 billion. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. During the same quarter last year, the company posted $0.69 EPS. On average, sell-side analysts predict that Manulife Financial Co. will post 2.67 earnings per share for the current year.
Manulife Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.296 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.96%. Manulife Financial’s payout ratio is currently 59.42%.
Manulife Financial Profile
(Free Report)
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.
Featured Articles
Want to see what other hedge funds are holding MFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manulife Financial Co. (NYSE:MFC – Free Report) (TSE:MFC).
Receive News & Ratings for Manulife Financial Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Manulife Financial and related companies with MarketBeat.com’s FREE daily email newsletter.
