Sequoia Financial Advisors LLC Purchases 11,226 Shares of Manulife Financial Co. (NYSE:MFC)

Sequoia Financial Advisors LLC lifted its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 25.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,869 shares of the financial services provider’s stock after purchasing an additional 11,226 shares during the period. Sequoia Financial Advisors LLC’s holdings in Manulife Financial were worth $1,651,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MFC. Grove Bank & Trust bought a new stake in Manulife Financial during the 2nd quarter worth approximately $25,000. West Financial Advisors LLC acquired a new position in shares of Manulife Financial during the third quarter worth $26,000. Addison Advisors LLC grew its stake in shares of Manulife Financial by 77.2% in the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 467 shares during the last quarter. HHM Wealth Advisors LLC increased its holdings in Manulife Financial by 119.0% in the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 600 shares during the period. Finally, Sachetta LLC raised its position in Manulife Financial by 209.5% during the 2nd quarter. Sachetta LLC now owns 1,170 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 792 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Performance

Shares of MFC opened at $29.99 on Friday. The firm has a market cap of $53.66 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.09 and a beta of 1.08. Manulife Financial Co. has a 52-week low of $17.07 and a 52-week high of $30.86. The business’s 50 day moving average price is $28.53 and its two-hundred day moving average price is $26.51.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.27. The company had revenue of $9.41 billion for the quarter, compared to the consensus estimate of $8.95 billion. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. During the same quarter in the previous year, the company earned $0.62 EPS. Research analysts predict that Manulife Financial Co. will post 2.73 EPS for the current fiscal year.

Manulife Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, August 21st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.87%. Manulife Financial’s dividend payout ratio (DPR) is presently 66.86%.

Analysts Set New Price Targets

MFC has been the subject of several recent research reports. Barclays assumed coverage on Manulife Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating for the company. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, TD Securities boosted their price target on shares of Manulife Financial from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $35.67.

About Manulife Financial

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.