Manulife Financial Corp $MFC Shares Bought by Ashton Thomas Private Wealth LLC

Key Points

• Ashton Thomas Private Wealth LLC increased its stake in Manulife Financial Corp by 19.1% during the first quarter, holding 143,994 shares valued at approximately $4.49 million.
• Manulife Financial recently declared a quarterly dividend of $0.3199, reflecting a positive change from its previous dividend, with an annualized yield of 4.2%.
• Analysts have given Manulife Financial a current average rating of "Buy" with a price target of $48.50, despite a recent decrease in price objectives from some analysts.

Ashton Thomas Private Wealth LLC increased its holdings in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 19.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 143,994 shares of the financial services provider's stock after purchasing an additional 23,132 shares during the period. Ashton Thomas Private Wealth LLC's holdings in Manulife Financial were worth $4,485,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. JCIC Asset Management Inc. grew its position in shares of Manulife Financial by 5.6% in the first quarter. JCIC Asset Management Inc. now owns 6,749 shares of the financial services provider's stock valued at $210,000 after purchasing an additional 360 shares during the period. Blair William & Co. IL grew its position in shares of Manulife Financial by 1.9% in the first quarter. Blair William & Co. IL now owns 19,878 shares of the financial services provider's stock valued at $619,000 after purchasing an additional 377 shares during the period. Pacer Advisors Inc. grew its position in shares of Manulife Financial by 3.0% in the first quarter. Pacer Advisors Inc. now owns 15,405 shares of the financial services provider's stock valued at $480,000 after purchasing an additional 444 shares during the period. Napatree Capital LLC grew its position in shares of Manulife Financial by 4.7% in the first quarter. Napatree Capital LLC now owns 10,279 shares of the financial services provider's stock valued at $320,000 after purchasing an additional 465 shares during the period. Finally, Private Advisor Group LLC grew its position in shares of Manulife Financial by 0.8% in the first quarter. Private Advisor Group LLC now owns 70,063 shares of the financial services provider's stock valued at $2,182,000 after purchasing an additional 547 shares during the period. Hedge funds and other institutional investors own 52.56% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Royal Bank Of Canada lowered their price objective on Manulife Financial from $51.00 to $49.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Morgan Stanley set a $48.00 price objective on Manulife Financial in a research report on Monday, August 18th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $48.50.

Manulife Financial Price Performance

MFC stock traded up $0.10 during trading on Friday, reaching $31.89. 1,038,523 shares of the stock traded hands, compared to its average volume of 2,091,922. The business's 50 day moving average price is $30.68 and its 200-day moving average price is $30.63. Manulife Financial Corp has a 52-week low of $25.92 and a 52-week high of $33.07. The firm has a market capitalization of $54.04 billion, a PE ratio of 14.24, a P/E/G ratio of 1.07 and a beta of 0.99.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.02). The firm had revenue of $11.30 billion for the quarter. Manulife Financial had a net margin of 10.46% and a return on equity of 15.77%. During the same period in the previous year, the business posted $0.91 earnings per share. On average, equities research analysts predict that Manulife Financial Corp will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, August 20th will be paid a dividend of $0.3199 per share. This is a boost from Manulife Financial's previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Wednesday, August 20th. Manulife Financial's payout ratio is presently 56.70%.

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.