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

Financial Counselors Inc. raised its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 57.4% in the third quarter, Holdings Channel.com reports. The fund owned 18,984 shares of the financial services provider’s stock after purchasing an additional 6,923 shares during the period. Financial Counselors Inc.’s holdings in Manulife Financial were worth $561,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MFC. Brooklyn Investment Group purchased a new position in shares of Manulife Financial during the 3rd quarter worth approximately $26,000. West Financial Advisors LLC purchased a new position in shares of Manulife Financial during the third quarter worth $26,000. Grove Bank & Trust acquired a new stake in shares of Manulife Financial in the second quarter valued at $25,000. Capital Performance Advisors LLP purchased a new stake in shares of Manulife Financial in the 3rd quarter valued at $30,000. Finally, Fortitude Family Office LLC acquired a new position in Manulife Financial during the 3rd quarter worth about $31,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MFC shares. Barclays started coverage on Manulife Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating for the company. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $37.50.

Manulife Financial Stock Performance

Shares of MFC opened at $32.13 on Friday. Manulife Financial Co. has a 1 year low of $19.23 and a 1 year high of $33.07. The stock has a market capitalization of $56.29 billion, a PE ratio of 15.52, a PEG ratio of 1.17 and a beta of 1.08. The stock has a 50-day simple moving average of $30.73 and a 200-day simple moving average of $27.92.

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

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.296 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.69%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s payout ratio 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.