HighTower Advisors LLC Has $4.95 Million Stock Holdings in Manulife Financial Co. (NYSE:MFC)

HighTower Advisors LLC reduced its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 2.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 167,501 shares of the financial services provider’s stock after selling 4,024 shares during the period. HighTower Advisors LLC’s holdings in Manulife Financial were worth $4,951,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of MFC. Baron Wealth Management LLC boosted its stake in shares of Manulife Financial by 2.3% during the 3rd 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 boosted its position in Manulife Financial by 0.5% during the third 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. Addison Advisors LLC increased its holdings 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 valued at $29,000 after purchasing an additional 467 shares during the last quarter. LRI Investments LLC raised its position 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 valued at $182,000 after purchasing an additional 542 shares during the period. Finally, Arkadios Wealth Advisors lifted its stake in shares of Manulife Financial by 1.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 41,841 shares of the financial services provider’s stock worth $1,236,000 after buying an additional 547 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Performance

NYSE:MFC opened at $31.45 on Wednesday. Manulife Financial Co. has a 52 week low of $20.09 and a 52 week high of $33.07. The firm’s 50-day simple moving average is $31.08 and its 200 day simple moving average is $28.18. The firm has a market cap of $55.09 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 1.19 and a beta of 1.09.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.70 by $0.30. The company had revenue of $10.69 billion for 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 last year, the firm earned $0.69 earnings per share. Sell-side analysts anticipate that Manulife Financial Co. will post 2.72 EPS for the current year.

Manulife Financial Increases Dividend

The business 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 dividend of $0.296 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.77%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, November 20th. Manulife Financial’s dividend payout ratio is presently 57.00%.

Wall Street Analyst Weigh In

Separately, Barclays started coverage on shares of Manulife Financial in a report on Thursday, September 5th. They issued an “equal weight” rating on the stock. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $37.50.

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.