Cerity Partners LLC Raises Stake in Manulife Financial Co. (NYSE:MFC)

Cerity Partners LLC increased its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 31.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 126,138 shares of the financial services provider’s stock after buying an additional 29,918 shares during the quarter. Cerity Partners LLC’s holdings in Manulife Financial were worth $3,727,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Baron Wealth Management LLC increased its stake in shares of Manulife Financial by 2.3% in the third quarter. Baron Wealth Management LLC now owns 14,400 shares of the financial services provider’s stock worth $426,000 after acquiring an additional 330 shares during the period. Americana Partners LLC grew its position in Manulife Financial by 0.5% during the 3rd quarter. Americana Partners LLC now owns 69,967 shares of the financial services provider’s stock worth $2,068,000 after purchasing an additional 364 shares during the period. Indiana Trust & Investment Management CO raised its stake in shares of Manulife Financial by 22.2% during the 2nd quarter. Indiana Trust & Investment Management CO now owns 2,540 shares of the financial services provider’s stock valued at $68,000 after buying an additional 462 shares during the last quarter. Addison Advisors LLC lifted its holdings in shares of Manulife Financial by 77.2% in the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock valued at $29,000 after buying an additional 467 shares during the period. Finally, LRI Investments LLC boosted its stake in shares of Manulife Financial by 8.6% in the second quarter. LRI Investments LLC now owns 6,819 shares of the financial services provider’s stock worth $182,000 after buying an additional 542 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Price Performance

Shares of MFC stock opened at $32.17 on Friday. Manulife Financial Co. has a 1-year low of $19.23 and a 1-year high of $33.07. The company has a market cap of $56.35 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 1.17 and a beta of 1.08. The stock has a 50 day simple moving average of $30.73 and a 200-day simple moving average of $27.91.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.30. The company had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $9.73 billion. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. During the same period in the prior year, the business posted $0.69 earnings per share. Analysts anticipate that Manulife Financial Co. will post 2.72 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be given a $0.296 dividend. This represents a $1.18 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Wednesday, November 20th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s dividend payout ratio (DPR) is 57.00%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MFC shares. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Barclays assumed coverage on shares of Manulife Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating for the company. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $37.50.

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.