SG Americas Securities LLC Purchases 11,164 Shares of Manulife Financial Corp (NYSE:MFC)

SG Americas Securities LLC lifted its holdings in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 27.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,440 shares of the financial services provider's stock after purchasing an additional 11,164 shares during the quarter. SG Americas Securities LLC's holdings in Manulife Financial were worth $1,602,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MFC. Simplicity Wealth LLC bought a new position in Manulife Financial during the first quarter valued at $201,000. OLD National Bancorp IN raised its position in shares of 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 buying an additional 799 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Manulife Financial in the 1st quarter valued at about $200,000. Sivia Capital Partners LLC purchased a new position in Manulife Financial in the first quarter worth about $216,000. Finally, Affinity Wealth Management LLC purchased a new position in Manulife Financial in the first quarter worth about $3,934,000. Institutional investors own 52.56% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MFC shares. Morgan Stanley set a $46.00 price objective on Manulife Financial in a research report on Monday, May 19th. Royal Bank Of Canada boosted their target price on Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a research report 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 company's stock. According to MarketBeat.com, Manulife Financial has an average rating of "Buy" and a consensus price target of $45.67.

Manulife Financial Trading Down 0.9%

Shares of MFC stock traded down $0.29 during trading hours on Thursday, reaching $30.60. 2,282,102 shares of the stock were exchanged, compared to its average volume of 2,146,333. The firm has a market capitalization of $52.26 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 1.05 and a beta of 1.01. Manulife Financial Corp has a 12-month low of $23.30 and a 12-month high of $33.07. The company's 50-day moving average price is $30.87 and its 200-day moving average price is $30.52.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its 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). Manulife Financial had a return on equity of 15.84% and a net margin of 9.58%. The business had revenue of $1.49 billion for the quarter. During the same period last year, the business posted $0.94 EPS. On average, sell-side analysts expect that Manulife Financial Corp will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $0.3194 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Wednesday, May 21st. This is an increase from Manulife Financial's previous quarterly dividend of $0.31. Manulife Financial's payout ratio is currently 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.