Foster & Motley Inc. Acquires 56,936 Shares of Manulife Financial Co. (NYSE:MFC)

Foster & Motley Inc. boosted its holdings in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 22.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 310,405 shares of the financial services provider's stock after buying an additional 56,936 shares during the period. Foster & Motley Inc.'s holdings in Manulife Financial were worth $6,860,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in shares of Manulife Financial by 5.7% during the 4th quarter. Blue Trust Inc. now owns 10,465 shares of the financial services provider's stock worth $231,000 after acquiring an additional 568 shares in the last quarter. First Affirmative Financial Network boosted its stake in shares of Manulife Financial by 6.0% during the 4th quarter. First Affirmative Financial Network now owns 10,604 shares of the financial services provider's stock worth $234,000 after acquiring an additional 600 shares in the last quarter. Advisor Partners II LLC boosted its stake in shares of Manulife Financial by 1.9% during the 3rd quarter. Advisor Partners II LLC now owns 32,217 shares of the financial services provider's stock worth $589,000 after acquiring an additional 610 shares in the last quarter. Clearstead Advisors LLC boosted its stake in Manulife Financial by 35.6% during the 3rd quarter. Clearstead Advisors LLC now owns 2,535 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 665 shares during the period. Finally, Advisory Resource Group boosted its stake in Manulife Financial by 2.2% during the 4th quarter. Advisory Resource Group now owns 32,311 shares of the financial services provider's stock valued at $714,000 after purchasing an additional 702 shares during the period. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Stock Up 1.7 %

Manulife Financial stock traded up $0.38 during trading hours on Monday, hitting $23.46. The stock had a trading volume of 1,725,598 shares, compared to its average volume of 3,262,245. The company has a 50-day moving average of $24.01 and a two-hundred day moving average of $21.52. The company has a market cap of $42.25 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 0.85 and a beta of 1.08. Manulife Financial Co. has a fifty-two week low of $17.07 and a fifty-two week high of $25.14.

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

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, February 28th were issued a $0.298 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This is a boost from Manulife Financial's previous quarterly dividend of $0.26. This represents a $1.19 dividend on an annualized basis and a dividend yield of 5.08%. Manulife Financial's dividend payout ratio is presently 61.66%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Jefferies Financial Group assumed coverage on Manulife Financial in a research note on Thursday, February 22nd. They set a "buy" rating for the company. BMO Capital Markets raised Manulife Financial from a "market perform" rating to an "outperform" rating and upped their price target for the company from $31.00 to $35.00 in a report on Thursday, February 15th. Finally, Desjardins raised Manulife Financial from a "hold" rating to a "buy" rating in a report on Thursday, February 15th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Manulife Financial has an average rating of "Moderate Buy" and an average price target of $33.33.

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.