DRW Securities LLC Invests $1.01 Million in Manulife Financial Co. (NYSE:MFC)

DRW Securities LLC bought a new position in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 34,100 shares of the financial services provider's stock, valued at approximately $1,008,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Harvest Fund Management Co. Ltd boosted its position in Manulife Financial by 56.4% during the third quarter. Harvest Fund Management Co. Ltd now owns 27,736 shares of the financial services provider's stock valued at $820,000 after purchasing an additional 9,997 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of Manulife Financial by 31.1% in the 3rd quarter. Cerity Partners LLC now owns 126,138 shares of the financial services provider's stock valued at $3,727,000 after buying an additional 29,918 shares in the last quarter. Nwam LLC purchased a new position in shares of Manulife Financial in the 3rd quarter worth approximately $815,000. Citigroup Inc. raised its stake in shares of Manulife Financial by 0.6% during the 3rd quarter. Citigroup Inc. now owns 792,694 shares of the financial services provider's stock worth $23,453,000 after acquiring an additional 4,730 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position 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 valued at $153,455,000 after acquiring an additional 158,216 shares during the last quarter. Institutional investors own 52.56% of the company's stock.

Analyst Upgrades and Downgrades

MFC has been the subject of several analyst reports. Barclays initiated coverage on Manulife Financial in a report on Thursday, September 5th. They set an "equal weight" rating for the company. Dbs Bank raised Manulife Financial to a "strong-buy" rating in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Manulife Financial presently has a consensus rating of "Buy" and an average target price of $37.50.

Manulife Financial Stock Down 0.4 %

Shares of Manulife Financial stock traded down $0.12 on Tuesday, reaching $31.84. 1,186,724 shares of the stock were exchanged, compared to its average volume of 2,543,198. Manulife Financial Co. has a twelve month low of $19.20 and a twelve month high of $33.07. The business has a 50 day moving average price of $30.53 and a two-hundred day moving average price of $27.81. The firm has a market capitalization of $55.78 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 1.18 and a beta of 1.08.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.30. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The firm had revenue of $10.69 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same quarter in the prior year, the business earned $0.69 earnings per share. Research analysts forecast that Manulife Financial Co. will post 2.74 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be paid a $0.296 dividend. This is an increase from Manulife Financial's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.72%. Manulife Financial's dividend payout ratio 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.