Private Trust Co. NA Increases Stake in Manulife Financial Co. (NYSE:MFC)

Private Trust Co. NA increased its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 31.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,547 shares of the financial services provider’s stock after purchasing an additional 1,100 shares during the period. Private Trust Co. NA’s holdings in Manulife Financial were worth $134,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. boosted its position in shares of Manulife Financial by 180.6% during the third quarter. Brown Brothers Harriman & Co. now owns 19,661 shares of the financial services provider’s stock valued at $581,000 after buying an additional 12,654 shares during the period. DRW Securities LLC purchased a new position in Manulife Financial during the 3rd quarter valued at $1,008,000. Harvest Fund Management Co. Ltd grew its position in Manulife Financial by 56.4% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 27,736 shares of the financial services provider’s stock valued at $820,000 after acquiring an additional 9,997 shares during the last quarter. Cerity Partners LLC increased its stake in Manulife Financial by 31.1% in the third quarter. Cerity Partners LLC now owns 126,138 shares of the financial services provider’s stock worth $3,727,000 after purchasing an additional 29,918 shares during the period. Finally, Nwam LLC bought a new stake in shares of Manulife Financial during the third quarter worth $815,000. 52.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MFC has been the topic of several recent analyst reports. Barclays began coverage on shares of Manulife Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating on the stock. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $37.50.

Manulife Financial Price Performance

Shares of Manulife Financial stock opened at $32.17 on Friday. Manulife Financial Co. has a 1 year low of $19.23 and a 1 year high of $33.07. The stock has a market cap of $56.35 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 1.17 and a beta of 1.08. The firm’s 50-day moving average is $30.73 and its two-hundred day moving average is $27.91.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.30. The company had revenue of $10.69 billion during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $0.69 earnings per share. On average, equities analysts expect that Manulife Financial Co. will post 2.72 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be given a dividend of $0.296 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.18 dividend on an annualized basis and a yield of 3.68%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s dividend payout ratio (DPR) is presently 57.00%.

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.