Focus Partners Wealth Boosts Position in Manulife Financial Co. (NYSE:MFC)

Focus Partners Wealth lifted its holdings in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 2,178.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 767,847 shares of the financial services provider's stock after purchasing an additional 734,142 shares during the period. Focus Partners Wealth's holdings in Manulife Financial were worth $23,592,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Crews Bank & Trust purchased a new stake in shares of Manulife Financial in the fourth quarter worth approximately $26,000. Lee Danner & Bass Inc. purchased a new stake in shares of Manulife Financial in the fourth quarter worth approximately $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Manulife Financial in the fourth quarter worth approximately $34,000. Golden State Wealth Management LLC purchased a new stake in shares of Manulife Financial during the fourth quarter valued at approximately $35,000. Finally, CKW Financial Group bought a new stake in Manulife Financial during the fourth quarter worth $37,000. Institutional investors own 52.56% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on MFC shares. Scotiabank restated an "outperform" rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada raised 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 investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $45.50.

Manulife Financial Price Performance

Shares of Manulife Financial stock traded down $0.11 during trading hours on Wednesday, hitting $31.64. 2,861,829 shares of the company's stock traded hands, compared to its average volume of 2,167,045. Manulife Financial Co. has a 12-month low of $23.30 and a 12-month high of $33.07. The stock has a market capitalization of $54.19 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 1.11 and a beta of 1.00. The company has a fifty day simple moving average of $29.90 and a 200-day simple moving average of $30.49.

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 the consensus estimate of $0.70 by ($0.01). Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The firm had revenue of $1.49 billion during the quarter. During the same period in the prior year, the business posted $0.94 earnings per share. On average, analysts forecast that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Wednesday, May 21st will be issued a $0.3194 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $1.28 annualized dividend and a yield of 4.04%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.31. Manulife Financial's dividend payout ratio (DPR) is 63.87%.

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.