27,590 Shares in Manulife Financial Co. (NYSE:MFC) Purchased by Nwam LLC

Nwam LLC purchased a new stake in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 27,590 shares of the financial services provider's stock, valued at approximately $815,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MFC. SG Americas Securities LLC acquired a new stake in Manulife Financial in the 1st quarter worth about $142,000. Advisors Asset Management Inc. boosted its holdings in Manulife Financial by 10.0% in the 1st quarter. Advisors Asset Management Inc. now owns 50,390 shares of the financial services provider's stock worth $1,259,000 after buying an additional 4,588 shares during the last quarter. SVB Wealth LLC acquired a new stake in Manulife Financial in the 1st quarter worth about $209,000. Bayesian Capital Management LP acquired a new position in shares of Manulife Financial during the 1st quarter worth approximately $1,105,000. Finally, Dynasty Wealth Management LLC acquired a new position in shares of Manulife Financial during the 1st quarter worth approximately $946,000. Hedge funds and other institutional investors own 52.56% of the company's stock.

Manulife Financial Stock Performance

Shares of Manulife Financial stock traded down $0.21 during trading hours on Friday, reaching $32.47. 1,574,545 shares of the company were exchanged, compared to its average volume of 2,219,076. Manulife Financial Co. has a 1 year low of $19.13 and a 1 year high of $33.07. The stock's fifty day moving average is $30.38 and its 200 day moving average is $27.70. The firm has a market cap of $56.88 billion, a PE ratio of 15.69, a PEG ratio of 1.19 and a beta of 1.08.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted 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. The business had revenue of $10.69 billion for the quarter, compared to analyst estimates of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same quarter in the prior year, the company earned $0.69 earnings per share. Research analysts expect that Manulife Financial Co. will post 2.74 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.296 per share. 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 3.65%. This is an increase from Manulife Financial's previous quarterly dividend of $0.29. Manulife Financial's payout ratio is presently 57.00%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MFC shares. Barclays started coverage on Manulife Financial in a report on Thursday, September 5th. They set an "equal weight" rating on the stock. Dbs Bank upgraded 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 MarketBeat, Manulife Financial presently has a consensus 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.