Blue Trust Inc. Boosts Position in Manulife Financial Co. (NYSE:MFC)

Blue Trust Inc. boosted its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 30.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 29,822 shares of the financial services provider’s stock after buying an additional 6,919 shares during the quarter. Blue Trust Inc.’s holdings in Manulife Financial were worth $881,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MFC. West Financial Advisors LLC purchased a new stake in shares of Manulife Financial during the 3rd quarter valued at $26,000. Brooklyn Investment Group bought a new stake in Manulife Financial during the third quarter worth about $26,000. Capital Performance Advisors LLP bought a new position in shares of Manulife Financial during the 3rd quarter valued at about $30,000. Fortitude Family Office LLC purchased a new position in shares of Manulife Financial during the 3rd quarter valued at about $31,000. Finally, Tsfg LLC lifted its position in Manulife Financial by 103.8% in the 3rd quarter. Tsfg LLC now owns 1,404 shares of the financial services provider’s stock worth $42,000 after buying an additional 715 shares during the last quarter. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Performance

MFC stock opened at $30.38 on Thursday. Manulife Financial Co. has a one year low of $21.54 and a one year high of $33.07. The company has a market capitalization of $52.51 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 1.05 and a beta of 1.09. The company’s 50 day moving average price is $31.03 and its two-hundred day moving average price is $29.30.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $9.73 billion. During the same period in the previous year, the firm posted $0.69 earnings per share. On average, research analysts predict that Manulife Financial Co. will post 2.69 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, November 20th were given a dividend of $0.296 per share. This represents a $1.18 annualized dividend and a yield of 3.90%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date was Wednesday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is presently 59.42%.

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.