Manulife Financial Co. (NYSE:MFC) Shares Bought by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. boosted its stake in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 197.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,737 shares of the financial services provider's stock after acquiring an additional 26,392 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Manulife Financial were worth $1,238,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Lee Danner & Bass Inc. acquired a new stake in shares of Manulife Financial in the 4th quarter valued at approximately $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Manulife Financial in the 4th quarter valued at approximately $34,000. Golden State Wealth Management LLC acquired a new stake in shares of Manulife Financial in the 4th quarter valued at approximately $35,000. Lazard Asset Management LLC acquired a new stake in shares of Manulife Financial in the 4th quarter valued at approximately $35,000. Finally, Mather Group LLC. acquired a new stake in shares of Manulife Financial in the 4th quarter valued at approximately $42,000. 52.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on MFC shares. Royal Bank of Canada raised their price objective on Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a research note on Friday, February 21st. Morgan Stanley set a $46.00 price objective on Manulife Financial in a research note on Monday, May 19th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Manulife Financial has a consensus rating of "Buy" and a consensus price target of $45.67.

Manulife Financial Stock Performance

Manulife Financial stock opened at $32.44 on Friday. The stock has a fifty day moving average of $30.43 and a two-hundred day moving average of $30.55. The company has a market capitalization of $55.56 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 1.11 and a beta of 1.00. Manulife Financial Co. has a fifty-two week low of $23.30 and a fifty-two week high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its quarterly earnings results 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 company had revenue of $1.49 billion for the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. During the same period last year, the firm earned $0.94 earnings per share. On average, analysts forecast that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Wednesday, May 21st will be given a $0.3194 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.94%. This is an increase from Manulife Financial's previous quarterly dividend of $0.31. Manulife Financial's payout ratio is currently 63.87%.

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.

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