Manulife Financial Co. (NYSE:MFC) Stock Holdings Lessened by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lowered its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 3.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,679 shares of the financial services provider’s stock after selling 1,402 shares during the period. Marks Group Wealth Management Inc’s holdings in Manulife Financial were worth $811,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. AE Wealth Management LLC increased its holdings in Manulife Financial by 9.8% in the third quarter. AE Wealth Management LLC now owns 29,558 shares of the financial services provider’s stock worth $540,000 after buying an additional 2,635 shares during the last quarter. HB Wealth Management LLC bought a new position in shares of Manulife Financial in the 3rd quarter valued at approximately $197,000. SG Americas Securities LLC acquired a new stake in Manulife Financial in the 3rd quarter worth approximately $592,000. Caprock Group LLC bought a new stake in Manulife Financial during the third quarter worth approximately $204,000. Finally, Measured Wealth Private Client Group LLC boosted its position in Manulife Financial by 16.9% during the third quarter. Measured Wealth Private Client Group LLC now owns 43,336 shares of the financial services provider’s stock worth $792,000 after purchasing an additional 6,280 shares during the period. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Manulife Financial Trading Up 0.3 %

MFC stock traded up $0.08 during trading on Tuesday, hitting $23.54. The company had a trading volume of 644,519 shares, compared to its average volume of 3,233,051. Manulife Financial Co. has a one year low of $17.07 and a one year high of $25.14. The business has a 50-day moving average of $24.01 and a 200-day moving average of $21.52. The stock has a market cap of $42.40 billion, a PE ratio of 12.15, a PEG ratio of 0.85 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.05. Manulife Financial had a return on equity of 15.98% and a net margin of 10.42%. The firm had revenue of $10.96 billion during the quarter, compared to analyst estimates of $7.57 billion. Research analysts forecast that Manulife Financial Co. will post 2.71 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.298 per share. This is a boost from Manulife Financial’s previous quarterly dividend of $0.26. This represents a $1.19 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date of this dividend was Tuesday, February 27th. Manulife Financial’s dividend payout ratio (DPR) is currently 61.66%.

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.