Guardian Partners Inc. Makes New Investment in Manulife Financial Co. (NYSE:MFC)

Guardian Partners Inc. purchased a new stake in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 192,187 shares of the financial services provider's stock, valued at approximately $5,893,000.

A number of other hedge funds have also bought and sold shares of MFC. Crews Bank & Trust acquired a new position in shares of Manulife Financial during the 4th quarter worth approximately $26,000. Brooklyn Investment Group acquired a new stake in Manulife Financial during the third quarter worth approximately $26,000. Lee Danner & Bass Inc. bought a new position in Manulife Financial during the 4th quarter worth $31,000. Stonebridge Financial Group LLC bought a new position in Manulife Financial during the 4th quarter worth $34,000. Finally, Golden State Wealth Management LLC acquired a new position in Manulife Financial in the 4th quarter valued at $35,000. 52.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MFC. Royal Bank of Canada increased their target price on Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. Scotiabank reiterated an "outperform" rating on shares of Manulife Financial in a research note on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Manulife Financial has a consensus rating of "Buy" and a consensus price target of $45.50.

Remove Ads

Manulife Financial Price Performance

NYSE:MFC traded up $0.02 during trading hours on Thursday, hitting $31.14. The company's stock had a trading volume of 1,482,168 shares, compared to its average volume of 1,902,860. The stock has a fifty day simple moving average of $30.14 and a 200-day simple moving average of $30.38. Manulife Financial Co. has a twelve month low of $22.61 and a twelve month high of $33.07. The company has a market capitalization of $53.65 billion, a P/E ratio of 15.04, a PEG ratio of 1.11 and a beta of 1.05.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.07. The firm had revenue of $9.31 billion for the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. On average, equities analysts predict that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.3094 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date was Wednesday, March 5th. This is a boost from Manulife Financial's previous quarterly dividend of $0.30. Manulife Financial's dividend payout ratio is presently 58.45%.

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.