Gold Investment Management Ltd. Grows Stock Position in Manulife Financial Co. (NYSE:MFC)

Gold Investment Management Ltd. lifted its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 183,217 shares of the financial services provider’s stock after purchasing an additional 2,040 shares during the quarter. Manulife Financial comprises 2.4% of Gold Investment Management Ltd.’s holdings, making the stock its 6th biggest position. Gold Investment Management Ltd.’s holdings in Manulife Financial were worth $5,627,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Crews Bank & Trust acquired a new stake in shares of Manulife Financial in the 4th quarter valued at about $26,000. Brooklyn Investment Group bought a new position in shares of Manulife Financial during the third quarter worth about $26,000. Stonebridge Financial Group LLC acquired a new stake in Manulife Financial in the 4th quarter valued at approximately $34,000. Golden State Wealth Management LLC acquired a new position in Manulife Financial during the 4th quarter worth approximately $35,000. Finally, CKW Financial Group acquired a new position in Manulife Financial during the 4th quarter worth approximately $37,000. 52.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Manulife Financial Stock Up 3.7 %

NYSE:MFC opened at $29.45 on Monday. Manulife Financial Co. has a twelve month low of $22.61 and a twelve month high of $33.07. The firm has a market capitalization of $50.73 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. The stock’s 50 day moving average price is $30.07 and its two-hundred day moving average price is $30.21.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. The business had revenue of $9.31 billion for the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. As a group, analysts anticipate that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a $0.3094 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 4.20%. The ex-dividend date is Wednesday, March 5th. Manulife Financial’s dividend payout ratio (DPR) is 58.45%.

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.