Lee Danner & Bass Inc. Invests $31,000 in Manulife Financial Co. (NYSE:MFC)

Lee Danner & Bass Inc. bought a new position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 1,000 shares of the financial services provider’s stock, valued at approximately $31,000.

A number of other large investors have also recently made changes to their positions in MFC. Little House Capital LLC boosted its stake in shares of Manulife Financial by 1.0% during the 4th quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider’s stock worth $1,037,000 after purchasing an additional 331 shares during the period. Robertson Stephens Wealth Management LLC boosted its stake in shares of Manulife Financial by 1.5% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 23,068 shares of the financial services provider’s stock valued at $708,000 after purchasing an additional 339 shares in the last quarter. Erste Asset Management GmbH boosted its stake in shares of Manulife Financial by 0.6% during the fourth quarter. Erste Asset Management GmbH now owns 69,300 shares of the financial services provider’s stock valued at $2,133,000 after purchasing an additional 400 shares in the last quarter. Addison Advisors LLC lifted its position in Manulife Financial by 45.9% during the fourth quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 449 shares during the last quarter. Finally, M&T Bank Corp lifted its position in Manulife Financial by 1.2% during the fourth quarter. M&T Bank Corp now owns 40,894 shares of the financial services provider’s stock valued at $1,256,000 after acquiring an additional 489 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors.

Manulife Financial Stock Performance

MFC stock opened at $30.45 on Monday. The firm’s fifty day moving average is $30.05 and its 200 day moving average is $30.31. Manulife Financial Co. has a one year low of $22.61 and a one year high of $33.07. The firm has a market cap of $52.45 billion, a PE ratio of 14.71, a P/E/G 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.07. The business had revenue of $9.31 billion for the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. Research analysts predict that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.3094 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 4.06%. The ex-dividend date was Wednesday, March 5th. Manulife Financial’s dividend payout ratio (DPR) is currently 58.45%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research 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 stock an “outperform” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $45.50.

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.