Signaturefd LLC Buys 714 Shares of Manulife Financial Co. (NYSE:MFC)

Signaturefd LLC grew its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 52,000 shares of the financial services provider’s stock after acquiring an additional 714 shares during the period. Signaturefd LLC’s holdings in Manulife Financial were worth $1,597,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MFC. Prime Capital Investment Advisors LLC bought a new stake in shares of Manulife Financial in the 3rd quarter valued at about $203,000. Oppenheimer & Co. Inc. increased its stake in Manulife Financial by 4.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 56,661 shares of the financial services provider’s stock worth $1,674,000 after purchasing an additional 2,612 shares in the last quarter. OneDigital Investment Advisors LLC increased its stake in Manulife Financial by 8.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 10,715 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 815 shares in the last quarter. Baron Wealth Management LLC increased its stake in Manulife Financial by 2.3% during the 3rd quarter. Baron Wealth Management LLC now owns 14,400 shares of the financial services provider’s stock worth $426,000 after purchasing an additional 330 shares in the last quarter. Finally, West Family Investments Inc. increased its stake in Manulife Financial by 8.2% during the 3rd quarter. West Family Investments Inc. now owns 17,593 shares of the financial services provider’s stock worth $520,000 after purchasing an additional 1,340 shares in the last quarter. 52.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MFC. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada increased their target price on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $45.50.

Manulife Financial Stock Up 2.3 %

NYSE:MFC opened at $30.14 on Tuesday. Manulife Financial Co. has a twelve month low of $22.61 and a twelve month high of $33.07. The business has a 50 day moving average price of $30.06 and a two-hundred day moving average price of $30.23. The company has a market cap of $51.91 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly 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. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The firm had revenue of $9.31 billion during the quarter. As a group, analysts anticipate that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.3094 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a yield of 4.11%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s dividend payout ratio is 58.45%.

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.