10,984 Shares in Manulife Financial Co. (NYSE:MFC) Purchased by Finward Bancorp

Finward Bancorp acquired a new stake in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,984 shares of the financial services provider's stock, valued at approximately $337,000.

A number of other hedge funds have also bought and sold shares of the business. Crews Bank & Trust bought a new stake in shares of Manulife Financial in the fourth quarter worth approximately $26,000. Lee Danner & Bass Inc. bought a new stake in Manulife Financial in the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC bought a new position in shares of Manulife Financial during the 4th quarter valued at $34,000. Golden State Wealth Management LLC purchased a new position in shares of Manulife Financial in the 4th quarter worth $35,000. Finally, CKW Financial Group bought a new stake in shares of Manulife Financial in the fourth quarter worth $37,000. Hedge funds and other institutional investors own 52.56% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on MFC. Scotiabank reissued an "outperform" rating on shares of Manulife Financial in a research report on Monday, February 3rd. Royal Bank of Canada lifted 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, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $45.50.

Manulife Financial Price Performance

Shares of MFC stock traded down $0.21 on Monday, hitting $28.40. 176,760 shares of the stock traded hands, compared to its average volume of 2,236,447. The firm has a market cap of $48.80 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 1.11 and a beta of 0.89. The firm has a 50 day simple moving average of $29.73 and a two-hundred day simple moving average of $30.43. Manulife Financial Co. has a 52 week low of $22.96 and a 52 week high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.07. The firm had revenue of $9.31 billion during the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. Sell-side analysts forecast that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.3094 per share. This is a positive change from Manulife Financial's previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.36%. Manulife Financial's dividend payout ratio (DPR) is presently 58.45%.

About Manulife Financial

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.