863 Shares in Manulife Financial Co. (NYSE:MFC) Acquired by Brooklyn Investment Group

Brooklyn Investment Group acquired a new stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 863 shares of the financial services provider’s stock, valued at approximately $26,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. West Financial Advisors LLC acquired a new stake in Manulife Financial in the 3rd quarter valued at $26,000. Grove Bank & Trust bought a new position in shares of Manulife Financial in the second quarter valued at $25,000. Capital Performance Advisors LLP acquired a new position in shares of Manulife Financial during the third quarter valued at about $30,000. Fortitude Family Office LLC bought a new stake in shares of Manulife Financial during the third quarter worth about $31,000. Finally, Addison Advisors LLC raised its holdings in shares of Manulife Financial by 77.2% in the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 467 shares during the last quarter. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Trading Up 0.8 %

Shares of Manulife Financial stock opened at $32.13 on Friday. The business’s fifty day simple moving average is $30.73 and its 200 day simple moving average is $27.92. Manulife Financial Co. has a 12 month low of $19.23 and a 12 month high of $33.07. The firm has a market capitalization of $56.29 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 1.17 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.30. The company had revenue of $10.69 billion for 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. Analysts predict that Manulife Financial Co. will post 2.72 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.296 per share. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial’s dividend payout ratio is currently 57.00%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MFC. Barclays assumed coverage on Manulife Financial in a research report on Thursday, September 5th. They set an “equal weight” rating on the stock. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Manulife Financial has an average rating of “Buy” and a consensus price target of $37.50.

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.