10,741 Shares in Manulife Financial Co. (NYSE:MFC) Acquired by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC acquired a new position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 10,741 shares of the financial services provider’s stock, valued at approximately $330,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MFC. Brooklyn Investment Group bought a new position in Manulife Financial in the 3rd quarter worth approximately $26,000. Crews Bank & Trust acquired a new stake in Manulife Financial in the fourth quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new stake in Manulife Financial in the third quarter worth approximately $30,000. Stonebridge Financial Group LLC acquired a new stake in Manulife Financial in the fourth quarter worth approximately $34,000. Finally, Golden State Wealth Management LLC acquired a new stake in Manulife Financial in the fourth quarter worth approximately $35,000. 52.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MFC shares. Royal Bank of Canada upped their target price on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned 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 Stock Down 2.6 %

MFC opened at $28.51 on Tuesday. The firm has a market cap of $49.13 billion, a PE ratio of 13.77, a P/E/G ratio of 1.11 and a beta of 1.05. The business has a fifty day simple moving average of $30.21 and a 200-day simple moving average of $30.16. Manulife Financial Co. has a fifty-two week low of $22.61 and a fifty-two week high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.07. The business 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%. On average, equities research analysts anticipate that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.3094 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 4.34%. Manulife Financial’s dividend payout ratio (DPR) is currently 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.