Kingswood Wealth Advisors LLC Invests $350,000 in Manulife Financial Co. (NYSE:MFC)

Kingswood Wealth Advisors LLC purchased a new position in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,385 shares of the financial services provider's stock, valued at approximately $350,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. West Financial Advisors LLC acquired a new stake in shares of Manulife Financial during the 3rd quarter worth $26,000. Brooklyn Investment Group purchased a new stake in Manulife Financial during the third quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new stake in Manulife Financial during the third quarter worth about $30,000. Fortitude Family Office LLC acquired a new stake in Manulife Financial during the third quarter worth about $31,000. Finally, Tsfg LLC raised its holdings in shares of Manulife Financial by 103.8% in the 3rd quarter. Tsfg LLC now owns 1,404 shares of the financial services provider's stock worth $42,000 after purchasing an additional 715 shares during the period. Hedge funds and other institutional investors own 52.56% of the company's stock.

Manulife Financial Stock Performance

Shares of NYSE:MFC traded up $0.41 during trading on Tuesday, reaching $29.71. 1,601,613 shares of the stock were exchanged, compared to its average volume of 1,771,232. The firm's 50-day moving average price is $30.85 and its 200 day moving average price is $29.39. The firm has a market cap of $51.35 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 1.04 and a beta of 1.09. Manulife Financial Co. has a 12-month low of $21.54 and a 12-month high of $33.07.

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 (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.30. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The company had revenue of $10.69 billion during the quarter, compared to the consensus estimate of $9.73 billion. During the same period in the previous year, the firm earned $0.69 earnings per share. As a group, equities research analysts forecast that Manulife Financial Co. will post 2.67 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th were given a $0.296 dividend. The ex-dividend date was Wednesday, November 20th. This is a positive change from Manulife Financial's previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a yield of 3.99%. Manulife Financial's dividend payout ratio (DPR) is 59.42%.

Manulife Financial 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.