Dorsey & Whitney Trust CO LLC Purchases New Shares in Manulife Financial Co. (NYSE:MFC)

Dorsey & Whitney Trust CO LLC bought a new position in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 10,741 shares of the financial services provider's stock, valued at approximately $330,000.

Several other hedge funds have also recently bought and sold shares of MFC. Brooklyn Investment Group acquired a new stake in shares of Manulife Financial in the third quarter valued at approximately $26,000. Crews Bank & Trust acquired a new stake in shares of Manulife Financial in the fourth quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new stake in shares of Manulife Financial in the third quarter valued at approximately $30,000. Stonebridge Financial Group LLC bought a new position in Manulife Financial during the fourth quarter worth $34,000. Finally, Golden State Wealth Management LLC bought a new position in Manulife Financial during the fourth quarter worth $35,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MFC shares. Scotiabank reaffirmed an "outperform" rating on shares of Manulife Financial in a research report on Monday, February 3rd. Royal Bank of Canada boosted their price target on Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a research note on Friday, February 21st. One equities research 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, Manulife Financial has an average rating of "Buy" and a consensus price target of $45.50.

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Manulife Financial Stock Performance

Shares of Manulife Financial stock traded up $1.04 on Friday, hitting $29.45. The stock had a trading volume of 2,453,344 shares, compared to its average volume of 1,979,109. The stock has a 50 day moving average of $30.10 and a 200 day moving average of $30.16. Manulife Financial Co. has a twelve month low of $22.61 and a twelve month high of $33.07. The firm has a market capitalization of $50.73 billion, a P/E ratio of 14.23, a PEG ratio of 1.11 and a beta of 1.05.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.07. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The company had revenue of $9.31 billion during the quarter. Equities analysts expect that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.3094 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from Manulife Financial's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 4.20%. Manulife Financial's dividend payout ratio is presently 58.45%.

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.