WCG Wealth Advisors LLC raised its stake in shares of Manulife Financial Corp (NYSE:MFC – Free Report) (TSE:MFC) by 105.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 100,431 shares of the financial services provider’s stock after buying an additional 51,477 shares during the quarter. WCG Wealth Advisors LLC’s holdings in Manulife Financial were worth $3,644,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of MFC. Basepoint Wealth LLC bought a new position in shares of Manulife Financial during the 4th quarter valued at about $25,000. Hantz Financial Services Inc. purchased a new position in shares of Manulife Financial in the fourth quarter worth $28,000. Blueline Advisors LLC bought a new stake in Manulife Financial during the 4th quarter valued at $34,000. Wolff Wiese Magana LLC raised its holdings in Manulife Financial by 269.2% during the 4th quarter. Wolff Wiese Magana LLC now owns 960 shares of the financial services provider’s stock valued at $35,000 after buying an additional 700 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. boosted its position in Manulife Financial by 208.8% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 1,022 shares of the financial services provider’s stock valued at $37,000 after buying an additional 691 shares during the period. Institutional investors own 52.56% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have commented on MFC. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Manulife Financial in a research report on Friday, February 13th. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research report on Wednesday, April 29th. Weiss Ratings raised Manulife Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, May 28th. Finally, TD Securities restated a “buy” rating on shares of Manulife Financial in a research note on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $51.50.
Manulife Financial Trading Up 0.9%
Shares of NYSE:MFC opened at $38.50 on Friday. Manulife Financial Corp has a 12-month low of $29.70 and a 12-month high of $40.40. The company has a market cap of $64.24 billion, a PE ratio of 15.28 and a beta of 0.84. The stock has a 50 day moving average of $37.71 and a 200 day moving average of $36.55.
Manulife Financial (NYSE:MFC – Get Free Report) (TSE:MFC) last announced its quarterly earnings data on Wednesday, May 13th. The financial services provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.02). Manulife Financial had a net margin of 10.19% and a return on equity of 16.58%. The firm had revenue of $8.89 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the business earned $0.99 earnings per share. Equities research analysts predict that Manulife Financial Corp will post 3.2 earnings per share for the current fiscal year.
Manulife Financial Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, May 29th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Friday, May 29th. Manulife Financial’s payout ratio is 56.35%.
Manulife Financial Profile
Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.
In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.
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