Ashton Thomas Private Wealth LLC Increases Position in Manulife Financial Corp $MFC

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 boosted its holdings in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 19.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,994 shares of the financial services provider's stock after buying 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 filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Lazard Asset Management LLC bought a new position in Manulife Financial in the 4th quarter valued at $35,000. William B. Walkup & Associates Inc. bought a new position in Manulife Financial in the 1st quarter valued at $43,000. NBC Securities Inc. boosted its holdings in Manulife Financial by 178,700.0% in the 1st quarter. NBC Securities Inc. now owns 1,788 shares of the financial services provider's stock valued at $55,000 after purchasing an additional 1,787 shares during the period. Opal Wealth Advisors LLC bought a new position in Manulife Financial in the 1st quarter valued at $59,000. Finally, Alpine Bank Wealth Management bought a new position in Manulife Financial in the 1st quarter valued at $71,000. 52.56% of the stock is owned by institutional investors.

Manulife Financial Stock Up 0.3%

Shares of NYSE MFC traded up $0.10 during mid-day trading on Friday, reaching $31.89. 1,038,523 shares of the company were exchanged, compared to its average volume of 2,301,583. Manulife Financial Corp has a 52 week low of $25.92 and a 52 week high of $33.07. The stock has a market capitalization of $54.04 billion, a PE ratio of 14.24, a PEG ratio of 1.03 and a beta of 0.99. The company's 50 day moving average price is $30.68 and its 200 day moving average price is $30.63.

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 for the quarter, missing the consensus estimate of $0.71 by ($0.02). The business had revenue of $11.30 billion during the quarter. Manulife Financial had a return on equity of 15.77% and a net margin of 10.46%.During the same period in the previous year, the company earned $0.91 earnings per share. On average, sell-side 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 declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Wednesday, August 20th will be paid a $0.3199 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This is an increase from Manulife Financial's previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a yield of 4.0%. Manulife Financial's payout ratio is currently 56.70%.

Analysts Set New Price Targets

Several brokerages have commented on MFC. Royal Bank Of Canada cut their price target on shares of Manulife Financial from $51.00 to $49.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Morgan Stanley set a $48.00 price target on shares of Manulife Financial in a report on Monday, August 18th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Manulife Financial currently has an average rating of "Buy" and an average price target of $48.50.

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.