NewEdge Advisors LLC Purchases 9,551 Shares of Manulife Financial Co. (NYSE:MFC)

NewEdge Advisors LLC boosted its stake in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 42.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,193 shares of the financial services provider's stock after buying an additional 9,551 shares during the period. NewEdge Advisors LLC's holdings in Manulife Financial were worth $989,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MFC. Little House Capital LLC raised its holdings in Manulife Financial by 1.0% during the 4th quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider's stock worth $1,037,000 after buying an additional 331 shares during the period. Robertson Stephens Wealth Management LLC boosted its holdings in shares of Manulife Financial by 1.5% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 23,068 shares of the financial services provider's stock valued at $708,000 after buying an additional 339 shares during the period. Erste Asset Management GmbH increased its position in shares of Manulife Financial by 0.6% during the fourth quarter. Erste Asset Management GmbH now owns 69,300 shares of the financial services provider's stock worth $2,133,000 after acquiring an additional 400 shares in the last quarter. TIAA Trust National Association raised its holdings in shares of Manulife Financial by 5.0% during the fourth quarter. TIAA Trust National Association now owns 8,419 shares of the financial services provider's stock worth $259,000 after acquiring an additional 404 shares during the period. Finally, Addison Advisors LLC lifted its position in Manulife Financial by 45.9% in the 4th quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 449 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. 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 report on Monday, February 3rd. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Manulife Financial currently has a consensus rating of "Buy" and an average price target of $45.50.

Manulife Financial Price Performance

MFC stock traded up $0.25 during midday trading on Monday, hitting $30.49. The company's stock had a trading volume of 1,800,424 shares, compared to its average volume of 2,236,766. The company's fifty day moving average price is $29.72 and its 200 day moving average price is $30.42. Manulife Financial Co. has a twelve month low of $23.27 and a twelve month high of $33.07. The stock has a market capitalization of $52.39 billion, a P/E ratio of 14.73, a PEG ratio of 1.11 and a beta of 0.89.

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

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.3094 dividend. This is an increase from Manulife Financial's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend was Wednesday, March 5th. Manulife Financial's payout ratio is currently 58.45%.

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.