Manulife Financial Co. (NYSE:MFC) Shares Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. boosted its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 197.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,737 shares of the financial services provider’s stock after acquiring an additional 26,392 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Manulife Financial were worth $1,238,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Little House Capital LLC boosted its holdings in Manulife Financial by 1.0% in the fourth quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider’s stock valued at $1,037,000 after acquiring an additional 331 shares during the last quarter. Robertson Stephens Wealth Management LLC boosted its holdings in Manulife Financial by 1.5% in 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 acquiring an additional 339 shares during the last quarter. Erste Asset Management GmbH boosted its holdings in Manulife Financial by 0.6% in 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 acquiring an additional 400 shares during the last quarter. TIAA Trust National Association boosted its holdings in Manulife Financial by 5.0% in the fourth quarter. TIAA Trust National Association now owns 8,419 shares of the financial services provider’s stock valued at $259,000 after acquiring an additional 404 shares during the last quarter. Finally, Addison Advisors LLC boosted its holdings in Manulife Financial by 45.9% in 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. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Price Performance

Shares of MFC opened at $32.44 on Friday. The stock’s 50-day moving average is $30.43 and its two-hundred day moving average is $30.55. The stock has a market cap of $55.56 billion, a PE ratio of 15.67, a P/E/G ratio of 1.11 and a beta of 1.00. Manulife Financial Co. has a 12 month low of $23.30 and a 12 month high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The business had revenue of $1.49 billion for the quarter. During the same period in the previous year, the business posted $0.94 EPS. On average, research analysts anticipate that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.3194 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Wednesday, May 21st. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.31. Manulife Financial’s dividend payout ratio (DPR) is 63.87%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Royal Bank of Canada boosted their price objective on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Morgan Stanley set a $46.00 price objective on Manulife Financial in a research note on Monday, May 19th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Manulife Financial has a consensus rating of “Buy” and an average price target of $45.67.

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.