Manulife Financial Corp (NYSE:MFC) Shares Acquired by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC has increased its stake in Manulife Financial Corp by 109.9%, holding 57,978 shares valued at approximately $1.8 million as of the latest SEC filing.
• Manulife Financial recently declared a quarterly dividend of $0.3194 per share, resulting in an annualized dividend of $1.28, which marks an increase from the previous dividend amount.
• Morgan Stanley has set a price objective of $46.00 for Manulife Financial, reflecting analyst interest in the stock's future performance.

HB Wealth Management LLC lifted its stake in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 109.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 57,978 shares of the financial services provider's stock after purchasing an additional 30,358 shares during the period. HB Wealth Management LLC's holdings in Manulife Financial were worth $1,806,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of MFC. Brighton Jones LLC lifted its position in shares of Manulife Financial by 33.9% during the fourth quarter. Brighton Jones LLC now owns 9,393 shares of the financial services provider's stock worth $288,000 after purchasing an additional 2,376 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Manulife Financial by 60.4% during the fourth quarter. Prudential Financial Inc. now owns 36,200 shares of the financial services provider's stock worth $1,112,000 after purchasing an additional 13,638 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Manulife Financial by 83.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 19,595 shares of the financial services provider's stock worth $601,000 after purchasing an additional 8,922 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Manulife Financial by 1.3% during the fourth quarter. Wellington Management Group LLP now owns 652,730 shares of the financial services provider's stock worth $20,042,000 after purchasing an additional 8,128 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Manulife Financial by 8.1% during the fourth quarter. Franklin Resources Inc. now owns 2,148,426 shares of the financial services provider's stock worth $65,920,000 after purchasing an additional 160,226 shares during the last quarter. Institutional investors own 52.56% of the company's stock.

Wall Street Analyst Weigh In

Separately, Morgan Stanley set a $46.00 price objective on shares of Manulife Financial in a research note on Monday, May 19th.

Manulife Financial Trading Down 0.0%

MFC traded down $0.01 on Tuesday, hitting $31.46. 1,566,771 shares of the company's stock were exchanged, compared to its average volume of 1,740,724. The firm has a market cap of $53.58 billion, a PE ratio of 16.47, a P/E/G ratio of 1.06 and a beta of 0.99. Manulife Financial Corp has a twelve month low of $23.30 and a twelve month high of $33.07. The stock has a fifty day moving average of $31.32 and a two-hundred day moving average of $30.53.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.01). The business had revenue of $1.49 billion for the quarter. Manulife Financial had a return on equity of 15.84% and a net margin of 9.58%. During the same quarter last year, the business posted $0.94 EPS. On average, analysts predict that Manulife Financial Corp will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Wednesday, May 21st were paid a $0.3194 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $1.28 annualized dividend and a dividend yield of 4.06%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.31. Manulife Financial's dividend payout ratio (DPR) is presently 67.02%.

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.