Manulife Financial Co. (NYSE:MFC) Shares Acquired by First Horizon Advisors Inc.

First Horizon Advisors Inc. increased its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 13.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,425 shares of the financial services provider’s stock after purchasing an additional 641 shares during the quarter. First Horizon Advisors Inc.’s holdings in Manulife Financial were worth $120,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Manulife Financial in the 3rd quarter valued at about $27,000. Anchor Investment Management LLC acquired a new position in Manulife Financial in the fourth quarter valued at approximately $27,000. Trust Co. of Vermont grew its holdings in shares of Manulife Financial by 478.5% during the third quarter. Trust Co. of Vermont now owns 1,533 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 1,268 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of Manulife Financial during the 3rd quarter worth approximately $32,000. Finally, Goodman Advisory Group LLC bought a new stake in shares of Manulife Financial in the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MFC shares. BMO Capital Markets raised Manulife Financial from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $31.00 to $35.00 in a research report on Thursday, February 15th. Jefferies Financial Group initiated coverage on shares of Manulife Financial in a research report on Thursday, February 22nd. They issued a “buy” rating on the stock. Finally, Desjardins upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating in a research report on Thursday, February 15th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.33.

Manulife Financial Stock Performance

Shares of MFC opened at $24.44 on Tuesday. The firm has a market capitalization of $43.89 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 0.89 and a beta of 1.08. The stock’s fifty day moving average is $23.93 and its 200-day moving average is $21.89. Manulife Financial Co. has a one year low of $17.07 and a one year high of $25.14.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, February 14th. The financial services provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.63 by $0.05. The firm had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $7.57 billion. Manulife Financial had a net margin of 10.42% and a return on equity of 15.98%. Analysts forecast that Manulife Financial Co. will post 2.7 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, February 28th were given a $0.298 dividend. This represents a $1.19 dividend on an annualized basis and a yield of 4.88%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Tuesday, February 27th. Manulife Financial’s dividend payout ratio is 61.66%.

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.