Kingswood Wealth Advisors LLC Acquires New Stake in Manulife Financial Co. (NYSE:MFC)

Kingswood Wealth Advisors LLC bought a new position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 11,385 shares of the financial services provider’s stock, valued at approximately $350,000.

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

Manulife Financial Stock Performance

NYSE MFC opened at $29.90 on Friday. Manulife Financial Co. has a fifty-two week low of $21.54 and a fifty-two week high of $33.07. The firm has a market capitalization of $51.69 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 1.05 and a beta of 1.09. The stock’s fifty day moving average is $30.95 and its two-hundred day moving average is $29.31.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced 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 net margin of 9.79% and a return on equity of 16.11%. The firm had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same quarter in the prior year, the firm posted $0.69 earnings per share. As a group, sell-side analysts forecast that Manulife Financial Co. will post 2.67 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.296 per share. This represents a $1.18 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend was Wednesday, November 20th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s payout ratio is presently 59.42%.

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.