World Investment Advisors LLC Buys 2,860 Shares of Manulife Financial Co. (NYSE:MFC)

World Investment Advisors LLC raised its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 30.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,351 shares of the financial services provider’s stock after acquiring an additional 2,860 shares during the quarter. World Investment Advisors LLC’s holdings in Manulife Financial were worth $365,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Baron Wealth Management LLC increased its holdings in Manulife Financial by 2.3% during the 3rd quarter. Baron Wealth Management LLC now owns 14,400 shares of the financial services provider’s stock valued at $426,000 after purchasing an additional 330 shares in the last quarter. Americana Partners LLC grew its holdings in shares of Manulife Financial by 0.5% during the third quarter. Americana Partners LLC now owns 69,967 shares of the financial services provider’s stock worth $2,068,000 after purchasing an additional 364 shares during the last quarter. Addison Advisors LLC increased its stake in shares of Manulife Financial by 77.2% in the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock valued at $29,000 after buying an additional 467 shares in the last quarter. LRI Investments LLC raised its holdings in shares of Manulife Financial by 8.6% in the second quarter. LRI Investments LLC now owns 6,819 shares of the financial services provider’s stock valued at $182,000 after buying an additional 542 shares during the last quarter. Finally, Arkadios Wealth Advisors lifted its position in Manulife Financial by 1.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 41,841 shares of the financial services provider’s stock worth $1,236,000 after buying an additional 547 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barclays started coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating for the company. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Manulife Financial has an average rating of “Buy” and a consensus target price of $37.50.

Manulife Financial Stock Down 3.4 %

MFC stock opened at $29.70 on Thursday. The business has a fifty day moving average of $31.23 and a 200-day moving average of $28.40. The company has a market cap of $52.03 billion, a P/E ratio of 14.35, a PEG ratio of 1.16 and a beta of 1.09. Manulife Financial Co. has a twelve month low of $20.78 and a twelve month high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.30. The firm had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same period in the previous year, the business posted $0.69 EPS. As a group, equities research analysts anticipate that Manulife Financial Co. will post 2.72 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be paid a $0.296 dividend. The ex-dividend date is Wednesday, November 20th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a yield of 3.99%. Manulife Financial’s dividend payout ratio (DPR) is presently 57.00%.

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.