Focus Partners Wealth Grows Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Focus Partners Wealth raised its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 2,178.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 767,847 shares of the financial services provider's stock after buying an additional 734,142 shares during the period. Focus Partners Wealth's holdings in Manulife Financial were worth $23,592,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. EP Wealth Advisors LLC raised its stake in Manulife Financial by 12.3% in the fourth quarter. EP Wealth Advisors LLC now owns 11,980 shares of the financial services provider's stock valued at $368,000 after buying an additional 1,316 shares in the last quarter. Colonial Trust Co SC increased its position in shares of Manulife Financial by 273.4% during the fourth quarter. Colonial Trust Co SC now owns 2,696 shares of the financial services provider's stock worth $83,000 after purchasing an additional 1,974 shares in the last quarter. CoreCap Advisors LLC increased its position in shares of Manulife Financial by 36.3% during the fourth quarter. CoreCap Advisors LLC now owns 12,066 shares of the financial services provider's stock worth $371,000 after purchasing an additional 3,213 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Manulife Financial by 1.1% during the fourth quarter. Cetera Investment Advisers now owns 148,560 shares of the financial services provider's stock worth $4,562,000 after purchasing an additional 1,627 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Manulife Financial during the fourth quarter worth about $307,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Price Performance

Shares of MFC traded up $0.14 during midday trading on Friday, reaching $32.01. 1,685,257 shares of the stock were exchanged, compared to its average volume of 2,167,202. The business's 50-day moving average price is $30.08 and its 200 day moving average price is $30.53. Manulife Financial Co. has a twelve month low of $23.30 and a twelve month high of $33.07. The company has a market capitalization of $54.82 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 1.11 and a beta of 1.00.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.01). Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The company had revenue of $1.49 billion for the quarter. During the same quarter in the prior year, the company posted $0.94 earnings per share. As a group, equities research analysts expect that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Wednesday, May 21st will be issued a dividend of $0.3194 per share. 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 3.99%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.31. Manulife Financial's dividend payout ratio (DPR) is currently 63.87%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Royal Bank of Canada lifted their target price on Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Scotiabank reiterated an "outperform" rating on shares of Manulife Financial in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $45.50.

Manulife Financial Company 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.