Brooklyn Investment Group Grows Position in Manulife Financial Co. (NYSE:MFC)

Brooklyn Investment Group grew its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 78.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,537 shares of the financial services provider’s stock after purchasing an additional 674 shares during the quarter. Brooklyn Investment Group’s holdings in Manulife Financial were worth $47,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MFC. West Financial Advisors LLC purchased a new position in Manulife Financial in the third quarter valued at $26,000. Capital Performance Advisors LLP purchased a new position in shares of Manulife Financial in the 3rd quarter valued at about $30,000. Fortitude Family Office LLC acquired a new position in Manulife Financial in the 3rd quarter worth about $31,000. Tsfg LLC boosted its position in Manulife Financial by 103.8% during the third quarter. Tsfg LLC now owns 1,404 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 715 shares in the last quarter. Finally, Pinnacle Bancorp Inc. increased its position in shares of Manulife Financial by 40.9% in the fourth quarter. Pinnacle Bancorp Inc. now owns 2,754 shares of the financial services provider’s stock valued at $85,000 after buying an additional 800 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Price Performance

Shares of NYSE:MFC opened at $30.58 on Monday. The business’s 50 day moving average price is $31.32 and its 200-day moving average price is $29.11. Manulife Financial Co. has a 1 year low of $20.78 and a 1 year high of $33.07. The firm has a market capitalization of $52.86 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 1.01 and a beta of 1.09.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.30. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The business had revenue of $10.69 billion for the quarter, compared to the consensus estimate of $9.73 billion. During the same period last year, the firm posted $0.69 earnings per share. On average, sell-side analysts expect that Manulife Financial Co. will post 2.71 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th were issued a dividend of $0.296 per share. The ex-dividend date was Wednesday, November 20th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.87%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s dividend payout ratio is presently 59.42%.

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.