Metis Global Partners LLC Has $1.75 Million Position in Manulife Financial Co. (NYSE:MFC)

Metis Global Partners LLC lifted its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 8.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,016 shares of the financial services provider’s stock after buying an additional 6,024 shares during the period. Metis Global Partners LLC’s holdings in Manulife Financial were worth $1,746,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Blue Trust Inc. increased its position in Manulife Financial by 5.7% in the 4th quarter. Blue Trust Inc. now owns 10,465 shares of the financial services provider’s stock worth $231,000 after buying an additional 568 shares during the period. First Affirmative Financial Network raised its stake in Manulife Financial by 6.0% during the 4th quarter. First Affirmative Financial Network now owns 10,604 shares of the financial services provider’s stock valued at $234,000 after purchasing an additional 600 shares during the last quarter. Advisor Partners II LLC boosted its holdings in Manulife Financial by 1.9% in the 3rd quarter. Advisor Partners II LLC now owns 32,217 shares of the financial services provider’s stock valued at $589,000 after purchasing an additional 610 shares during the period. First Horizon Advisors Inc. grew its position in Manulife Financial by 13.4% in the 4th quarter. First Horizon Advisors Inc. now owns 5,425 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 641 shares during the last quarter. Finally, Clearstead Advisors LLC increased its holdings in shares of Manulife Financial by 35.6% during the 3rd quarter. Clearstead Advisors LLC now owns 2,535 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 665 shares during the period. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Down 0.8 %

Shares of MFC stock opened at $24.24 on Wednesday. The company has a market capitalization of $43.53 billion, a P/E ratio of 12.56, a P/E/G ratio of 0.89 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 firm has a 50-day moving average price of $23.94 and a 200 day moving average price of $21.94.

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

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, February 28th were given a dividend of $0.298 per share. The ex-dividend date was Tuesday, February 27th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 4.92%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.26. Manulife Financial’s payout ratio is presently 61.66%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MFC shares. Jefferies Financial Group started coverage on Manulife Financial in a research report on Thursday, February 22nd. They set a “buy” rating on the stock. BMO Capital Markets upgraded Manulife Financial from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $31.00 to $35.00 in a research report on Thursday, February 15th. Finally, Desjardins upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. One investment 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, Manulife Financial has an average rating of “Moderate Buy” and an average 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.