Millstone Evans Group LLC Takes Position in Manulife Financial Co. (NYSE:MFC)

Millstone Evans Group LLC acquired a new stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,420 shares of the financial services provider’s stock, valued at approximately $44,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in shares of Manulife Financial during the 3rd quarter worth about $26,000. Crews Bank & Trust acquired a new stake in Manulife Financial during the fourth quarter worth approximately $26,000. Lee Danner & Bass Inc. purchased a new stake in Manulife Financial in the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC acquired a new position in Manulife Financial in the 4th quarter valued at $34,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Manulife Financial during the 4th quarter worth $35,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Analyst Upgrades and Downgrades

MFC has been the subject of several analyst reports. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada increased their price objective on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $45.50.

Manulife Financial Price Performance

Manulife Financial stock opened at $30.45 on Monday. Manulife Financial Co. has a 12 month low of $22.61 and a 12 month high of $33.07. The company has a market cap of $52.45 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. The stock’s 50-day moving average is $30.05 and its 200-day moving average is $30.31.

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. The firm had revenue of $9.31 billion during the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. Research analysts anticipate that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a $0.3094 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 4.06%. Manulife Financial’s dividend payout ratio is currently 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.