Summitry LLC Acquires 816 Shares of Manulife Financial Co. (NYSE:MFC)

Summitry LLC raised its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,869 shares of the financial services provider’s stock after acquiring an additional 816 shares during the quarter. Summitry LLC’s holdings in Manulife Financial were worth $518,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Little House Capital LLC boosted its position in Manulife Financial by 1.0% during 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 purchasing an additional 331 shares in the last quarter. Robertson Stephens Wealth Management LLC lifted its position in shares of Manulife Financial by 1.5% during 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 buying an additional 339 shares during the last quarter. Erste Asset Management GmbH boosted its holdings in shares of Manulife Financial by 0.6% in the 4th quarter. Erste Asset Management GmbH now owns 69,300 shares of the financial services provider’s stock valued at $2,133,000 after buying an additional 400 shares in the last quarter. TIAA Trust National Association grew its position in shares of Manulife Financial by 5.0% in the 4th quarter. TIAA Trust National Association now owns 8,419 shares of the financial services provider’s stock worth $259,000 after buying an additional 404 shares during the last quarter. Finally, Addison Advisors LLC raised its stake in shares of Manulife Financial by 45.9% during the 4th quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 449 shares in the last quarter. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Manulife Financial Stock Up 0.2 %

MFC stock opened at $31.43 on Wednesday. Manulife Financial Co. has a 52 week low of $22.61 and a 52 week high of $33.07. The stock has a market capitalization of $54.14 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. The firm has a 50 day moving average of $30.12 and a 200 day moving average of $30.37.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data 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. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The business had revenue of $9.31 billion during the quarter. On average, equities research analysts expect that Manulife Financial Co. will post 2.87 earnings per share for the current 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 issued 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 dividend on an annualized basis and a dividend yield of 3.94%. Manulife Financial’s dividend payout ratio is currently 58.45%.

Wall Street Analysts Forecast Growth

MFC has been the subject of several recent analyst reports. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada raised 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. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Manulife Financial currently has an average rating of “Buy” and an average 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.