Manulife Financial Co. (NYSE:MFC) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lifted its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 59,557 shares of the financial services provider’s stock after buying an additional 3,688 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Manulife Financial were worth $1,829,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MFC. Prime Capital Investment Advisors LLC acquired a new position in shares of Manulife Financial during the third quarter worth about $203,000. Oppenheimer & Co. Inc. grew its position in shares of Manulife Financial by 4.8% during the third quarter. Oppenheimer & Co. Inc. now owns 56,661 shares of the financial services provider’s stock worth $1,674,000 after buying an additional 2,612 shares in the last quarter. Plato Investment Management Ltd acquired a new position in shares of Manulife Financial during the third quarter worth about $373,000. Huntington National Bank grew its position in shares of Manulife Financial by 4.0% during the third quarter. Huntington National Bank now owns 23,904 shares of the financial services provider’s stock worth $706,000 after buying an additional 922 shares in the last quarter. Finally, OneDigital Investment Advisors LLC grew its position in shares of Manulife Financial by 8.2% during the third quarter. OneDigital Investment Advisors LLC now owns 10,715 shares of the financial services provider’s stock worth $317,000 after buying an additional 815 shares in the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Stock Up 3.7 %

Shares of MFC opened at $29.45 on Friday. The stock has a 50 day moving average price of $30.07 and a 200 day moving average price of $30.17. The company has a market capitalization of $50.73 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a 52-week low of $22.61 and a 52-week 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. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The company had revenue of $9.31 billion during the quarter. On average, equities analysts anticipate 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 will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.3094 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a yield of 4.20%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s payout ratio is currently 58.45%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MFC shares. 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 report on Friday, February 21st. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. One investment 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. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $45.50.

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.