Manulife Financial Co. (NYSE:MFC) Shares Acquired by Redhawk Wealth Advisors Inc.

Redhawk Wealth Advisors Inc. raised its stake in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 38.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,126 shares of the financial services provider's stock after buying an additional 21,039 shares during the quarter. Redhawk Wealth Advisors Inc.'s holdings in Manulife Financial were worth $2,340,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MFC. SG Americas Securities LLC boosted its position in shares of Manulife Financial by 27.7% during the first quarter. SG Americas Securities LLC now owns 51,440 shares of the financial services provider's stock worth $1,602,000 after buying an additional 11,164 shares during the period. Simplicity Wealth LLC acquired a new position in Manulife Financial during the 1st quarter worth about $201,000. OLD National Bancorp IN boosted its holdings in Manulife Financial by 8.8% during the 1st quarter. OLD National Bancorp IN now owns 9,828 shares of the financial services provider's stock valued at $306,000 after acquiring an additional 799 shares during the period. Patriot Financial Group Insurance Agency LLC acquired a new position in Manulife Financial in the 1st quarter valued at about $200,000. Finally, Sivia Capital Partners LLC acquired a new position in Manulife Financial in the 1st quarter valued at about $216,000. Hedge funds and other institutional investors own 52.56% of the company's stock.

Manulife Financial Trading Up 0.2%

NYSE:MFC traded up $0.05 during mid-day trading on Thursday, hitting $32.06. The stock had a trading volume of 336,808 shares, compared to its average volume of 2,124,562. Manulife Financial Co. has a twelve month low of $23.30 and a twelve month high of $33.07. The stock has a 50-day simple moving average of $30.55 and a two-hundred day simple moving average of $30.54. The company has a market capitalization of $54.91 billion, a PE ratio of 15.49, a PEG ratio of 1.11 and a beta of 1.01.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.69 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.01). The firm had revenue of $1.49 billion during the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. During the same quarter last year, the firm earned $0.94 EPS. Sell-side analysts predict that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Wednesday, May 21st will be paid a dividend of $0.3194 per share. This is a boost from Manulife Financial's previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, May 21st. This represents a $1.28 annualized dividend and a yield of 3.98%. Manulife Financial's payout ratio is presently 66.49%.

Wall Street Analyst Weigh In

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

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.