Manulife Financial Co. (NYSE:MFC) Shares Bought by Financial Counselors Inc.

Financial Counselors Inc. raised its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 14.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,717 shares of the financial services provider’s stock after buying an additional 2,733 shares during the period. Financial Counselors Inc.’s holdings in Manulife Financial were worth $667,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Brooklyn Investment Group acquired a new position in Manulife Financial during the 3rd quarter worth $26,000. Crews Bank & Trust acquired a new position in shares of Manulife Financial during the fourth quarter worth about $26,000. Lee Danner & Bass Inc. purchased a new stake in shares of Manulife Financial during the fourth quarter worth approximately $31,000. Stonebridge Financial Group LLC acquired a new stake in Manulife Financial in the fourth quarter valued at approximately $34,000. Finally, Golden State Wealth Management LLC acquired a new position in Manulife Financial during the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada raised their price objective 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 report on Monday, February 3rd. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Manulife Financial currently has an average rating of “Buy” and an average price target of $45.50.

Manulife Financial Price Performance

Shares of MFC opened at $30.77 on Friday. The firm has a fifty day moving average price of $30.14 and a 200 day moving average price of $30.40. Manulife Financial Co. has a 1-year low of $22.61 and a 1-year high of $33.07. The stock has a market cap of $53.01 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.07. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The business had revenue of $9.31 billion for the quarter. As a group, equities analysts expect that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.3094 per share. The ex-dividend date was Wednesday, March 5th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 4.02%. Manulife Financial’s dividend payout ratio is currently 58.45%.

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.