Hennion & Walsh Asset Management Inc. Buys Shares of 13,345 Manulife Financial Co. (NYSE:MFC)

Hennion & Walsh Asset Management Inc. bought a new position in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 13,345 shares of the financial services provider's stock, valued at approximately $410,000.

A number of other institutional investors have also made changes to their positions in the company. National Bank of Canada FI boosted its holdings in Manulife Financial by 13.5% in the third quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider's stock worth $829,374,000 after purchasing an additional 3,329,892 shares during the period. Toronto Dominion Bank lifted its position in shares of Manulife Financial by 3.2% in the 2nd quarter. Toronto Dominion Bank now owns 24,057,503 shares of the financial services provider's stock worth $640,411,000 after buying an additional 750,422 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Manulife Financial by 0.5% in the 2nd quarter. Legal & General Group Plc now owns 14,783,400 shares of the financial services provider's stock valued at $393,592,000 after buying an additional 75,244 shares during the period. Geode Capital Management LLC grew its position in shares of Manulife Financial by 8.1% during the 3rd quarter. Geode Capital Management LLC now owns 8,273,260 shares of the financial services provider's stock valued at $247,473,000 after buying an additional 616,517 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Manulife Financial by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,186,930 shares of the financial services provider's stock worth $153,455,000 after acquiring an additional 158,216 shares during the period. 52.56% of the stock is currently owned by institutional investors.

Manulife Financial Stock Up 0.5 %

MFC stock traded up $0.17 during midday trading on Tuesday, reaching $30.78. The company had a trading volume of 894,150 shares, compared to its average volume of 1,483,005. The firm has a market capitalization of $53.20 billion, a PE ratio of 14.87, a P/E/G ratio of 1.05 and a beta of 1.09. The stock has a 50 day moving average price of $31.28 and a 200 day moving average price of $29.15. Manulife Financial Co. has a fifty-two week low of $21.24 and a fifty-two week high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The firm had revenue of $10.69 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same period last year, the company earned $0.69 earnings per share. Research analysts predict that Manulife Financial Co. will post 2.69 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th were paid a $0.296 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.18 annualized dividend and a dividend yield of 3.85%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.29. Manulife Financial's dividend payout ratio (DPR) is presently 59.42%.

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.