Americana Partners LLC Grows Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Americana Partners LLC raised its position in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 157.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,372 shares of the financial services provider's stock after buying an additional 49,784 shares during the quarter. Americana Partners LLC's holdings in Manulife Financial were worth $1,798,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Manulife Financial by 10.1% in the 1st quarter. BlackRock Inc. now owns 878,359 shares of the financial services provider's stock worth $18,753,000 after buying an additional 80,450 shares in the last quarter. Raymond James Trust N.A. grew its position in Manulife Financial by 7.9% in the first quarter. Raymond James Trust N.A. now owns 27,503 shares of the financial services provider's stock worth $587,000 after acquiring an additional 2,013 shares in the last quarter. Cetera Investment Advisers bought a new stake in Manulife Financial during the first quarter worth approximately $428,000. Moors & Cabot Inc. raised its position in Manulife Financial by 2.3% during the first quarter. Moors & Cabot Inc. now owns 43,078 shares of the financial services provider's stock valued at $920,000 after purchasing an additional 956 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of Manulife Financial by 32.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 14,560 shares of the financial services provider's stock valued at $311,000 after purchasing an additional 3,585 shares during the last quarter. Hedge funds and other institutional investors own 52.56% of the company's stock.

Analysts Set New Price Targets

MFC has been the topic of several analyst reports. Desjardins raised Manulife Financial from a "hold" rating to a "buy" rating in a research report on Thursday, February 15th. Royal Bank of Canada upgraded shares of Manulife Financial from a "sector perform" rating to an "outperform" rating in a report on Tuesday, December 12th. Jefferies Financial Group started coverage on shares of Manulife Financial in a report on Thursday, February 22nd. They set a "buy" rating on the stock. TheStreet raised shares of Manulife Financial from a "c+" rating to a "b" rating in a research note on Thursday, December 21st. Finally, BMO Capital Markets raised Manulife Financial from a "market perform" rating to an "outperform" rating and upped their target price for the company from $31.00 to $35.00 in a research note on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Manulife Financial currently has an average rating of "Moderate Buy" and an average price target of $33.33.

Manulife Financial Stock Performance

Manulife Financial stock traded up $0.23 during trading hours on Monday, hitting $24.63. The company had a trading volume of 1,455,502 shares, compared to its average volume of 3,332,955. The firm has a market cap of $44.35 billion, a P/E ratio of 12.76, a P/E/G ratio of 0.90 and a beta of 1.08. The company has a 50-day moving average price of $23.73 and a two-hundred day moving average price of $21.12. Manulife Financial Co. has a 1 year low of $17.07 and a 1 year high of $25.14.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.05. The firm had revenue of $10.96 billion during the quarter, compared to analyst estimates of $7.57 billion. Manulife Financial had a return on equity of 15.98% and a net margin of 10.42%. As a group, equities research analysts anticipate that Manulife Financial Co. will post 2.71 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, February 28th were given a dividend of $0.298 per share. This is an increase from Manulife Financial's previous quarterly dividend of $0.26. The ex-dividend date was Tuesday, February 27th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 4.84%. Manulife Financial's dividend payout ratio is presently 61.66%.

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.