Redhawk Wealth Advisors Inc. Has $2.34 Million Position in Manulife Financial Co. (NYSE:MFC)

Redhawk Wealth Advisors Inc. raised its stake in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 38.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 75,126 shares of the financial services provider's stock after buying an additional 21,039 shares during the period. Redhawk Wealth Advisors Inc.'s holdings in Manulife Financial were worth $2,340,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MFC. Brighton Jones LLC boosted its position in shares of Manulife Financial by 33.9% during the 4th quarter. Brighton Jones LLC now owns 9,393 shares of the financial services provider's stock valued at $288,000 after purchasing an additional 2,376 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Manulife Financial during the fourth quarter valued at approximately $35,000. Apollon Wealth Management LLC lifted its position in shares of Manulife Financial by 21.0% in the 4th quarter. Apollon Wealth Management LLC now owns 9,732 shares of the financial services provider's stock valued at $299,000 after acquiring an additional 1,690 shares in the last quarter. Kingsview Wealth Management LLC boosted its stake in Manulife Financial by 4.6% in the 4th quarter. Kingsview Wealth Management LLC now owns 11,790 shares of the financial services provider's stock worth $362,000 after purchasing an additional 519 shares during the period. Finally, Empowered Funds LLC acquired a new position in Manulife Financial in the 4th quarter worth approximately $1,459,000. Institutional investors and hedge funds own 52.56% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on MFC shares. Royal Bank of Canada raised their price objective 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. Morgan Stanley set a $46.00 price objective on shares of Manulife Financial in a research note on Monday, May 19th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $45.67.

Manulife Financial Stock Performance

Shares of MFC stock traded down $0.99 during trading on Friday, hitting $31.15. 2,765,828 shares of the company were exchanged, compared to its average volume of 2,138,127. The firm has a market capitalization of $53.35 billion, a price-to-earnings ratio of 15.05, a P/E/G ratio of 1.11 and a beta of 1.01. The business's 50-day simple moving average is $30.73 and its 200 day simple moving average is $30.54. Manulife Financial Co. has a twelve month low of $23.30 and a twelve month high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued 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). Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The business had revenue of $1.49 billion for the quarter. During the same quarter in the previous year, the firm posted $0.94 earnings per share. On average, equities analysts forecast that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently declared 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. This is a positive change from Manulife Financial's previous quarterly dividend of $0.31. 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 4.10%. Manulife Financial's dividend payout ratio (DPR) is currently 66.49%.

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.