Steward Partners Investment Advisory LLC Grows Position in Manulife Financial Co. (NYSE:MFC)

Steward Partners Investment Advisory LLC raised its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 3.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,948 shares of the financial services provider’s stock after buying an additional 607 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Manulife Financial were worth $520,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MFC. Entropy Technologies LP purchased a new position in Manulife Financial during the 3rd quarter valued at approximately $1,352,000. Ashton Thomas Private Wealth LLC grew its holdings in Manulife Financial by 2.6% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 58,152 shares of the financial services provider’s stock valued at $1,718,000 after buying an additional 1,447 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new position in Manulife Financial during the 3rd quarter valued at approximately $203,000. Cumberland Partners Ltd purchased a new position in Manulife Financial during the 3rd quarter valued at approximately $290,000. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of Manulife Financial by 4.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 56,661 shares of the financial services provider’s stock valued at $1,674,000 after purchasing an additional 2,612 shares during the last quarter. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Price Performance

NYSE:MFC opened at $29.27 on Thursday. Manulife Financial Co. has a 1 year low of $22.61 and a 1 year high of $33.07. The firm has a market capitalization of $50.43 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 1.11 and a beta of 1.05. The business has a 50 day simple moving average of $30.14 and a 200-day simple moving average of $30.17.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The firm had revenue of $9.31 billion during the quarter. As a group, analysts expect that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.3094 per share. 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 4.23%. The ex-dividend date is Wednesday, March 5th. Manulife Financial’s dividend payout ratio (DPR) is currently 58.45%.

Analyst Ratings Changes

MFC has been the subject of several analyst reports. Royal Bank of Canada raised their price objective on Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Manulife Financial presently has an average rating of “Buy” and an average target price of $45.50.

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.