Goodman Advisory Group LLC Buys New Position in Manulife Financial Co. (NYSE:MFC)

Goodman Advisory Group LLC bought a new stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,450 shares of the financial services provider’s stock, valued at approximately $32,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MFC. Anchor Investment Management LLC purchased a new position in shares of Manulife Financial in the 4th quarter valued at about $27,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Manulife Financial during the third quarter worth approximately $27,000. Sanctuary Wealth Management L.L.C. purchased a new stake in Manulife Financial during the fourth quarter worth approximately $27,000. Trust Co. of Vermont increased its position in Manulife Financial by 478.5% during the third 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 during the period. Finally, Arlington Trust Co LLC acquired a new position in Manulife Financial during the third quarter worth approximately $29,000. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Manulife Financial Stock Down 0.9 %

Shares of Manulife Financial stock traded down $0.20 during trading on Wednesday, reaching $22.78. The company’s stock had a trading volume of 2,203,671 shares, compared to its average volume of 2,984,334. The business has a 50 day moving average price of $23.97 and a 200-day moving average price of $21.37. The company has a market capitalization of $41.03 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 0.85 and a beta of 1.08. 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 posted its earnings results on Wednesday, February 14th. The financial services provider reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. The company had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $7.57 billion. Manulife Financial had a return on equity of 15.98% and a net margin of 10.42%. Research analysts predict that Manulife Financial Co. will post 2.71 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a yield of 5.23%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.26. The ex-dividend date was Tuesday, February 27th. Manulife Financial’s payout ratio is presently 61.66%.

Analyst Ratings Changes

Several research analysts have commented on the company. TheStreet raised Manulife Financial from a “c+” rating to a “b” rating in a research report on Thursday, December 21st. BMO Capital Markets raised Manulife Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $31.00 to $35.00 in a research report on Thursday, February 15th. Desjardins raised Manulife Financial from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. Finally, Jefferies Financial Group started coverage on Manulife Financial in a report on Thursday, February 22nd. They issued a “buy” rating on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.