Rehmann Capital Advisory Group Purchases New Shares in Manulife Financial Co. (NYSE:MFC)

Rehmann Capital Advisory Group acquired a new position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,931 shares of the financial services provider’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Grove Bank & Trust acquired a new stake in shares of Manulife Financial during the second quarter valued at approximately $25,000. West Financial Advisors LLC purchased a new position in Manulife Financial during the 3rd quarter worth approximately $26,000. Brooklyn Investment Group acquired a new stake in Manulife Financial during the 3rd quarter valued at $26,000. Addison Advisors LLC lifted its holdings in shares of Manulife Financial by 77.2% in the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 467 shares in the last quarter. Finally, HHM Wealth Advisors LLC boosted its position in shares of Manulife Financial by 119.0% in the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock worth $29,000 after buying an additional 600 shares during the period. Institutional investors and hedge funds own 52.56% of the company’s stock.

Analysts Set New Price Targets

Separately, Barclays began coverage on Manulife Financial in a research report on Thursday, September 5th. They set an “equal weight” rating on the stock. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $37.50.

Manulife Financial Stock Up 0.4 %

Manulife Financial stock opened at $30.95 on Friday. Manulife Financial Co. has a 12 month low of $20.78 and a 12 month high of $33.07. The stock has a market cap of $54.21 billion, a P/E ratio of 14.95, a P/E/G ratio of 1.16 and a beta of 1.09. The company’s fifty day simple moving average is $31.19 and its 200-day simple moving average is $28.29.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The firm had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $9.73 billion. During the same quarter last year, the firm earned $0.69 earnings per share. On average, equities research analysts expect that Manulife Financial Co. will post 2.72 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be paid a $0.296 dividend. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, November 20th. This represents a $1.18 annualized dividend and a dividend yield of 3.83%. Manulife Financial’s payout ratio is presently 57.00%.

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.