Guggenheim Capital LLC Acquires 1,624 Shares of Manulife Financial Co. (NYSE:MFC)

Guggenheim Capital LLC boosted its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 23.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,486 shares of the financial services provider’s stock after buying an additional 1,624 shares during the quarter. Guggenheim Capital LLC’s holdings in Manulife Financial were worth $261,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MFC. Crews Bank & Trust bought a new stake in Manulife Financial during the fourth quarter valued at approximately $26,000. Lee Danner & Bass Inc. bought a new position in Manulife Financial in the 4th quarter worth $31,000. Stonebridge Financial Group LLC bought a new position in Manulife Financial in the 4th quarter worth $34,000. Golden State Wealth Management LLC purchased a new stake in Manulife Financial in the 4th quarter worth $35,000. Finally, CKW Financial Group bought a new stake in Manulife Financial during the fourth quarter valued at about $37,000. 52.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on MFC. Royal Bank of Canada raised their price target on Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Manulife Financial currently has a consensus rating of “Buy” and an average price target of $45.50.

Manulife Financial Stock Up 0.8 %

Shares of Manulife Financial stock opened at $30.49 on Tuesday. The firm has a market cap of $52.39 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 1.11 and a beta of 0.89. The business has a 50-day moving average price of $29.73 and a 200-day moving average price of $30.42. Manulife Financial Co. has a twelve month low of $23.27 and a twelve month high of $33.07.

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

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.3094 per share. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.06%. Manulife Financial’s dividend payout ratio (DPR) is presently 58.45%.

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.