Benjamin Edwards Inc. Purchases 104,894 Shares of Manulife Financial Co. (NYSE:MFC)

Benjamin Edwards Inc. raised its holdings in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 260.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 145,124 shares of the financial services provider's stock after acquiring an additional 104,894 shares during the quarter. Benjamin Edwards Inc.'s holdings in Manulife Financial were worth $4,289,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cetera Investment Advisers boosted its position in Manulife Financial by 386.1% during the first quarter. Cetera Investment Advisers now owns 144,854 shares of the financial services provider's stock worth $3,620,000 after purchasing an additional 115,053 shares during the period. Cetera Advisors LLC grew its position in Manulife Financial by 90.4% in the first quarter. Cetera Advisors LLC now owns 99,602 shares of the financial services provider's stock valued at $2,489,000 after acquiring an additional 47,303 shares during the last quarter. Mather Group LLC. grew its position in Manulife Financial by 2,160.9% in the second quarter. Mather Group LLC. now owns 6,828 shares of the financial services provider's stock valued at $171,000 after acquiring an additional 6,526 shares during the last quarter. Aprio Wealth Management LLC grew its holdings in shares of Manulife Financial by 5.9% during the second quarter. Aprio Wealth Management LLC now owns 11,470 shares of the financial services provider's stock worth $305,000 after purchasing an additional 635 shares during the last quarter. Finally, Simplicity Wealth LLC bought a new stake in shares of Manulife Financial during the second quarter worth about $215,000. 52.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MFC has been the topic of several analyst reports. Dbs Bank upgraded Manulife Financial to a "strong-buy" rating in a report on Thursday, August 8th. Barclays assumed coverage on Manulife Financial in a research report on Thursday, September 5th. They set 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $37.50.

Manulife Financial Stock Performance

NYSE:MFC traded up $0.22 during trading on Wednesday, reaching $32.29. The company's stock had a trading volume of 1,824,614 shares, compared to its average volume of 2,530,531. The firm has a market cap of $56.57 billion, a price-to-earnings ratio of 15.60, a price-to-earnings-growth ratio of 1.19 and a beta of 1.09. The firm has a 50 day moving average of $30.92 and a 200-day moving average of $28.04. Manulife Financial Co. has a 12 month low of $19.68 and a 12 month high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its quarterly 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. The company had revenue of $10.69 billion during the quarter, compared to the consensus estimate of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same quarter in the prior year, the company earned $0.69 EPS. Equities research analysts forecast that Manulife Financial Co. will post 2.72 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 Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be issued a $0.296 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.18 annualized dividend and a dividend yield of 3.67%. This is a boost from Manulife Financial's previous quarterly dividend of $0.29. Manulife Financial's dividend payout ratio (DPR) is presently 57.00%.

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.