Principal Securities Inc. Buys 985 Shares of Manulife Financial Co. (NYSE:MFC)

Principal Securities Inc. lifted its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,206 shares of the financial services provider’s stock after acquiring an additional 985 shares during the quarter. Principal Securities Inc.’s holdings in Manulife Financial were worth $498,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Crews Bank & Trust bought a new stake in shares of Manulife Financial in the fourth quarter worth approximately $26,000. Brooklyn Investment Group purchased a new position in shares of Manulife Financial in the third quarter worth approximately $26,000. Capital Performance Advisors LLP purchased a new position in shares of Manulife Financial in the third quarter worth approximately $30,000. Fortitude Family Office LLC purchased a new position in shares of Manulife Financial in the third quarter worth approximately $31,000. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Manulife Financial in the fourth quarter worth approximately $34,000. 52.56% of the stock is currently owned by institutional investors.

Manulife Financial Price Performance

Shares of NYSE:MFC opened at $30.36 on Friday. Manulife Financial Co. has a 1-year low of $22.61 and a 1-year high of $33.07. The company has a market capitalization of $52.32 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.04 and a beta of 1.09. The firm’s 50 day simple moving average is $30.32 and its two-hundred day simple moving average is $29.75.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.07. Manulife Financial had a net margin of 10.08% and a return on equity of 16.15%. The business had revenue of $9.31 billion for the quarter. On average, sell-side analysts anticipate that Manulife Financial Co. will post 2.88 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.3094 per share. The ex-dividend date is Wednesday, March 5th. This represents a $1.24 annualized dividend and a yield of 4.08%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s payout ratio is currently 59.42%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada raised their price objective on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Manulife Financial presently 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.