20,332 Shares in Manulife Financial Co. (NYSE:MFC) Acquired by Freedom Investment Management Inc.

Freedom Investment Management Inc. purchased a new stake in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 20,332 shares of the financial services provider's stock, valued at approximately $601,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Grove Bank & Trust bought a new position in Manulife Financial in the 2nd quarter worth $25,000. West Financial Advisors LLC purchased a new stake in Manulife Financial in the third quarter worth about $26,000. Brooklyn Investment Group purchased a new stake in Manulife Financial in the third quarter worth about $26,000. Addison Advisors LLC boosted its position in Manulife Financial by 77.2% during the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 467 shares in the last quarter. Finally, HHM Wealth Advisors LLC grew its holdings in shares of Manulife Financial by 119.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider's stock worth $29,000 after acquiring an additional 600 shares during the period. Institutional investors own 52.56% of the company's stock.

Manulife Financial Trading Up 0.8 %

NYSE:MFC traded up $0.24 on Friday, reaching $32.13. 790,252 shares of the stock traded hands, compared to its average volume of 2,532,668. The company's fifty day simple moving average is $30.73 and its 200 day simple moving average is $27.92. The company has a market capitalization of $56.29 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 1.17 and a beta of 1.08. Manulife Financial Co. has a 12 month low of $19.23 and a 12 month high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.30. The firm had revenue of $10.69 billion for 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 period in the prior year, the company posted $0.69 earnings per share. Equities analysts anticipate that Manulife Financial Co. will post 2.72 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently disclosed 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 represents a $1.18 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Wednesday, November 20th. This is a boost from Manulife Financial's previous quarterly dividend of $0.29. Manulife Financial's dividend payout ratio is 57.00%.

Wall Street Analyst Weigh In

MFC has been the topic of several research reports. Dbs Bank upgraded Manulife Financial to a "strong-buy" rating in a research report on Thursday, August 8th. Barclays started coverage on Manulife Financial in a research report on Thursday, September 5th. They set an "equal weight" rating for the company. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Manulife Financial currently has an average rating of "Buy" and an average price target of $37.50.

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.