Benjamin Edwards Inc. Buys 19,655 Shares of Manulife Financial Co. (NYSE:MFC)

Benjamin Edwards Inc. increased its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 273.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,847 shares of the financial services provider’s stock after acquiring an additional 19,655 shares during the period. Benjamin Edwards Inc.’s holdings in Manulife Financial were worth $593,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MFC. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Manulife Financial in the third quarter valued at approximately $27,000. Anchor Investment Management LLC bought a new position in shares of Manulife Financial in the fourth quarter valued at approximately $27,000. Trust Co. of Vermont lifted its stake in Manulife Financial by 478.5% in the third quarter. Trust Co. of Vermont now owns 1,533 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 1,268 shares during the last quarter. NBC Securities Inc. purchased a new position in Manulife Financial in the third quarter valued at approximately $32,000. Finally, Goodman Advisory Group LLC purchased a new position in Manulife Financial in the fourth quarter valued at approximately $32,000. 52.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on MFC shares. Desjardins upgraded Manulife Financial from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. BMO Capital Markets upgraded Manulife Financial from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $31.00 to $35.00 in a research report on Thursday, February 15th. Finally, Jefferies Financial Group initiated coverage on Manulife Financial in a research report on Thursday, February 22nd. They set a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

Manulife Financial Trading Up 1.4 %

Shares of Manulife Financial stock traded up $0.32 during trading on Friday, hitting $24.02. The stock had a trading volume of 1,168,637 shares, compared to its average volume of 3,210,547. The firm has a market cap of $43.26 billion, a price-to-earnings ratio of 12.44, a P/E/G ratio of 0.87 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. The business’s 50-day moving average is $23.93 and its 200 day moving average is $21.76.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, February 14th. The financial services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. The business had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $7.57 billion. Manulife Financial had a return on equity of 15.98% and a net margin of 10.42%. As a group, equities analysts expect that Manulife Financial Co. will post 2.7 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date of this dividend was Tuesday, February 27th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.26. Manulife Financial’s dividend payout ratio is currently 61.66%.

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.