Manulife Financial Co. (NYSE:MFC) Shares Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 312,357 shares of the financial services provider’s stock after purchasing an additional 4,164 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Manulife Financial were worth $9,593,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. OneDigital Investment Advisors LLC boosted its holdings in Manulife Financial by 8.2% in the third quarter. OneDigital Investment Advisors LLC now owns 10,715 shares of the financial services provider’s stock valued at $317,000 after acquiring an additional 815 shares during the last quarter. Avior Wealth Management LLC lifted its stake in shares of Manulife Financial by 279.6% in the 3rd quarter. Avior Wealth Management LLC now owns 8,582 shares of the financial services provider’s stock valued at $254,000 after purchasing an additional 6,321 shares in the last quarter. Commerce Bank grew its holdings in shares of Manulife Financial by 24.3% during the 3rd quarter. Commerce Bank now owns 13,696 shares of the financial services provider’s stock worth $405,000 after purchasing an additional 2,676 shares during the period. PCJ Investment Counsel Ltd. increased its position in Manulife Financial by 9.5% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 247,211 shares of the financial services provider’s stock worth $7,305,000 after purchasing an additional 21,420 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board raised its holdings in Manulife Financial by 2.7% in the third quarter. Ontario Teachers Pension Plan Board now owns 67,928 shares of the financial services provider’s stock valued at $2,007,000 after buying an additional 1,780 shares during the period. 52.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MFC shares. Royal Bank of Canada lifted their target price on shares of Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $45.50.

Manulife Financial Price Performance

NYSE:MFC opened at $30.51 on Thursday. Manulife Financial Co. has a 1-year low of $22.61 and a 1-year high of $33.07. The firm has a 50-day moving average of $30.04 and a two-hundred day moving average of $30.25. The stock has a market cap of $52.56 billion, a P/E ratio of 14.74, a PEG ratio of 1.11 and a beta of 1.05.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.07. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The company had revenue of $9.31 billion during the quarter. As a group, equities analysts expect that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.3094 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.06%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, March 5th. Manulife Financial’s payout ratio is 58.45%.

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.