Leavell Investment Management Inc. Invests $201,000 in Manulife Financial Co. (NYSE:MFC)

Leavell Investment Management Inc. bought a new stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 6,798 shares of the financial services provider’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Grove Bank & Trust purchased a new stake in shares of Manulife Financial during the second quarter worth approximately $25,000. West Financial Advisors LLC acquired a new stake in shares of Manulife Financial in the 3rd quarter valued at $26,000. Addison Advisors LLC grew its stake in shares of Manulife Financial by 77.2% during the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 467 shares in the last quarter. HHM Wealth Advisors LLC increased its holdings in 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 valued at $29,000 after buying an additional 600 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in Manulife Financial in the third quarter valued at $30,000. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Trading Up 1.9 %

MFC stock opened at $32.40 on Tuesday. The business has a 50 day simple moving average of $29.39 and a 200-day simple moving average of $27.11. Manulife Financial Co. has a twelve month low of $18.56 and a twelve month high of $32.94. The company has a market capitalization of $56.99 billion, a P/E ratio of 15.65, a PEG ratio of 1.15 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $9.73 billion. During the same period in the prior year, the company earned $0.69 earnings per share. Research analysts predict that Manulife Financial Co. will post 2.75 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be issued a $0.296 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.65%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s payout ratio is presently 56.04%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Barclays initiated coverage on shares of Manulife Financial in a report on Thursday, September 5th. They issued an “equal weight” rating for the company. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Manulife Financial has a consensus rating of “Buy” and a consensus price target of $37.50.

Manulife Financial Company 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.