Callan Family Office LLC Takes $892,000 Position in Manulife Financial Co. (NYSE:MFC)

Callan Family Office LLC purchased a new stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 29,040 shares of the financial services provider’s stock, valued at approximately $892,000.

A number of other large investors have also made changes to their positions in MFC. Brooklyn Investment Group purchased a new position in shares of Manulife Financial in the 3rd quarter valued at about $26,000. Crews Bank & Trust purchased a new position in shares of Manulife Financial in the 4th quarter valued at about $26,000. Capital Performance Advisors LLP purchased a new position in shares of Manulife Financial in the 3rd quarter valued at about $30,000. Stonebridge Financial Group LLC purchased a new position in shares of Manulife Financial in the 4th quarter valued at about $34,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Manulife Financial in the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

MFC has been the subject of a number of research analyst reports. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada raised 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. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $45.50.

Manulife Financial Trading Down 0.5 %

NYSE:MFC opened at $29.23 on Friday. The firm has a 50-day moving average price of $30.25 and a two-hundred day moving average price of $30.12. Manulife Financial Co. has a twelve month low of $22.61 and a twelve month high of $33.07. The company has a market capitalization of $50.37 billion, a P/E ratio of 14.12, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. The business had revenue of $9.31 billion during the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. On average, equities research analysts predict 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 will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.3094 per share. The ex-dividend date is Wednesday, March 5th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.23%. 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.