Atomi Financial Group Inc. Grows Position in Manulife Financial Co. (NYSE:MFC)

Atomi Financial Group Inc. increased its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 16.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,558 shares of the financial services provider’s stock after acquiring an additional 3,333 shares during the quarter. Atomi Financial Group Inc.’s holdings in Manulife Financial were worth $723,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MFC. West Financial Advisors LLC purchased a new stake in Manulife Financial in the third quarter worth about $26,000. Brooklyn Investment Group bought a new position in Manulife Financial in the third quarter worth about $26,000. Capital Performance Advisors LLP bought a new position in Manulife Financial in the third quarter worth about $30,000. Fortitude Family Office LLC bought a new position in Manulife Financial in the third quarter worth about $31,000. Finally, Tsfg LLC raised its holdings in Manulife Financial by 103.8% in the third quarter. Tsfg LLC now owns 1,404 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 715 shares in the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Stock Performance

Shares of Manulife Financial stock opened at $30.64 on Friday. The company has a market capitalization of $52.97 billion, a PE ratio of 14.80, a P/E/G ratio of 1.06 and a beta of 1.09. The company has a 50-day simple moving average of $31.21 and a two-hundred day simple moving average of $29.19. Manulife Financial Co. has a one year low of $21.54 and a one year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.30. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The business had revenue of $10.69 billion during the quarter, compared to the consensus estimate of $9.73 billion. During the same period in the previous year, the company posted $0.69 earnings per share. On average, equities analysts predict that Manulife Financial Co. will post 2.69 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th were issued a dividend of $0.296 per share. The ex-dividend date was Wednesday, November 20th. This represents a $1.18 annualized dividend and a dividend yield of 3.86%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s dividend payout ratio is 59.42%.

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.