AJOVista LLC Purchases New Holdings in Manulife Financial Co. (NYSE:MFC)

AJOVista LLC acquired a new position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 181,600 shares of the financial services provider’s stock, valued at approximately $4,012,000. Manulife Financial accounts for approximately 5.1% of AJOVista LLC’s portfolio, making the stock its 3rd biggest position.

Other institutional investors also recently modified their holdings of the company. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Manulife Financial in the 3rd quarter worth approximately $27,000. Anchor Investment Management LLC bought a new position in Manulife Financial during the 4th quarter valued at about $27,000. Trust Co. of Vermont grew its stake 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 last quarter. NBC Securities Inc. acquired a new stake in shares of Manulife Financial during the third quarter worth approximately $32,000. Finally, Goodman Advisory Group LLC bought a new position in shares of Manulife Financial in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Up 1.3 %

MFC stock traded up $0.31 during midday trading on Friday, reaching $24.01. The company’s stock had a trading volume of 1,168,687 shares, compared to its average volume of 2,751,152. The business’s 50-day simple moving average is $23.93 and its 200-day simple moving average is $21.79. Manulife Financial Co. has a 52 week low of $17.07 and a 52 week high of $25.14. The stock has a market cap of $43.25 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 0.89 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $0.68 earnings per share 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 analyst estimates of $7.57 billion. As a group, equities analysts forecast that Manulife Financial Co. will post 2.7 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, February 28th were issued a $0.298 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.26. This represents a $1.19 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend was Tuesday, February 27th. Manulife Financial’s dividend payout ratio is 61.66%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MFC. Desjardins raised Manulife Financial from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. Jefferies Financial Group initiated coverage on shares of Manulife Financial in a research report on Thursday, February 22nd. They issued a “buy” rating for the company. Finally, BMO Capital Markets raised Manulife Financial from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $31.00 to $35.00 in a research note on Thursday, February 15th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average 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.