Measured Wealth Private Client Group LLC Purchases 4,223 Shares of Manulife Financial Co. (NYSE:MFC)

Measured Wealth Private Client Group LLC boosted its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 11.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 41,248 shares of the financial services provider’s stock after acquiring an additional 4,223 shares during the quarter. Measured Wealth Private Client Group LLC’s holdings in Manulife Financial were worth $1,031,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MFC. Dixon Mitchell Investment Counsel Inc. raised its holdings in Manulife Financial by 3.2% in the 1st quarter. Dixon Mitchell Investment Counsel Inc. now owns 494,845 shares of the financial services provider’s stock worth $12,371,000 after purchasing an additional 15,496 shares in the last quarter. Diversified Trust Co bought a new position in Manulife Financial in the 1st quarter worth $218,000. Kathmere Capital Management LLC bought a new position in Manulife Financial in the 1st quarter worth $270,000. Lincoln Capital Corp bought a new position in Manulife Financial in the 1st quarter worth $213,000. Finally, Janiczek Wealth Management LLC raised its holdings in Manulife Financial by 36.5% in the 1st quarter. Janiczek Wealth Management LLC now owns 2,088 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 558 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors.

Manulife Financial Stock Up 0.6 %

Shares of NYSE MFC traded up $0.15 during trading on Tuesday, reaching $26.45. 1,614,755 shares of the company traded hands, compared to its average volume of 3,024,287. The firm has a 50 day simple moving average of $25.47 and a 200-day simple moving average of $23.86. The stock has a market capitalization of $47.34 billion, a PE ratio of 15.38, a P/E/G ratio of 0.97 and a beta of 1.09. Manulife Financial Co. has a 52-week low of $17.07 and a 52-week high of $26.89.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.04. Manulife Financial had a net margin of 9.28% and a return on equity of 16.27%. The firm had revenue of $9.49 billion for the quarter, compared to the consensus estimate of $8.85 billion. As a group, research analysts predict that Manulife Financial Co. will post 2.74 EPS for the current year.

Manulife Financial Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.39%. The ex-dividend date was Tuesday, May 21st. Manulife Financial’s dividend payout ratio (DPR) is presently 67.44%.

Analyst Upgrades and Downgrades

Several research analysts have commented on MFC shares. TD Securities upped their price objective on shares of Manulife Financial from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Friday. National Bank Financial upgraded shares of Manulife Financial from a “sector perform” rating to an “outperform” rating in a report on Thursday, May 9th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.00.

Manulife Financial 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.