Trustmark National Bank Trust Department Increases Holdings in Manulife Financial Co. (NYSE:MFC)

Trustmark National Bank Trust Department increased its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 2.8% during the third quarter, HoldingsChannel.com reports. The firm owned 120,905 shares of the financial services provider’s stock after buying an additional 3,270 shares during the period. Trustmark National Bank Trust Department’s holdings in Manulife Financial were worth $3,573,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Grove Bank & Trust bought a new stake in Manulife Financial during the 2nd quarter worth approximately $25,000. West Financial Advisors LLC purchased a new position in Manulife Financial during the third quarter worth about $26,000. Addison Advisors LLC increased its stake in Manulife Financial by 77.2% in the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 467 shares during the last quarter. HHM Wealth Advisors LLC raised its holdings in shares of Manulife Financial by 119.0% in the 2nd quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 600 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of Manulife Financial during the 3rd quarter valued at about $30,000. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Trading Down 0.3 %

Shares of NYSE:MFC opened at $32.19 on Thursday. The stock has a market capitalization of $56.39 billion, a P/E ratio of 15.55, a price-to-earnings-growth ratio of 1.19 and a beta of 1.08. Manulife Financial Co. has a 12-month low of $18.91 and a 12-month high of $33.07. The stock’s 50-day moving average price is $30.20 and its 200-day moving average price is $27.58.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.30. The business had revenue of $10.69 billion for the quarter, compared to analyst estimates of $9.73 billion. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. During the same quarter last year, the firm earned $0.69 EPS. As a group, research analysts predict that Manulife Financial Co. will post 2.74 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.296 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Wednesday, November 20th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s dividend payout ratio is currently 56.04%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Barclays began coverage on Manulife Financial in a research report on Thursday, September 5th. They set an “equal weight” rating on the stock. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $37.50.

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.