Manulife Financial Co. (NYSE:MFC) Shares Bought by Napatree Capital LLC

Napatree Capital LLC grew its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,814 shares of the financial services provider’s stock after purchasing an additional 536 shares during the quarter. Napatree Capital LLC’s holdings in Manulife Financial were worth $301,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Guardian Partners Inc. acquired a new position in shares of Manulife Financial in the 4th quarter valued at $5,893,000. Hillsdale Investment Management Inc. increased its holdings in shares of Manulife Financial by 216.0% in the 4th quarter. Hillsdale Investment Management Inc. now owns 2,545,393 shares of the financial services provider’s stock valued at $78,110,000 after acquiring an additional 1,739,853 shares during the period. Millstone Evans Group LLC acquired a new position in shares of Manulife Financial in the 4th quarter valued at $44,000. Lee Danner & Bass Inc. acquired a new position in shares of Manulife Financial in the 4th quarter valued at $31,000. Finally, Northwest & Ethical Investments L.P. increased its holdings in shares of Manulife Financial by 8.1% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 488,364 shares of the financial services provider’s stock valued at $14,976,000 after acquiring an additional 36,539 shares during the period. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Performance

Shares of MFC opened at $30.45 on Friday. The stock has a market capitalization of $52.45 billion, a P/E ratio of 14.71, a P/E/G ratio of 1.11 and a beta of 1.05. The company’s fifty day moving average is $30.05 and its two-hundred day moving average is $30.29. Manulife Financial Co. has a 1 year low of $22.61 and a 1 year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.67 by $0.07. The company 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%. Sell-side analysts predict that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.3094 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 4.06%. Manulife Financial’s payout ratio is currently 58.45%.

Wall Street Analyst Weigh In

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

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.