Manulife Financial Co. (NYSE:MFC) Shares Acquired by Moors & Cabot Inc.

Moors & Cabot Inc. grew its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,555 shares of the financial services provider’s stock after purchasing an additional 1,650 shares during the quarter. Moors & Cabot Inc.’s holdings in Manulife Financial were worth $1,583,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Crews Bank & Trust acquired a new stake in shares of Manulife Financial in the fourth quarter valued at approximately $26,000. Brooklyn Investment Group acquired a new stake in shares of Manulife Financial in the third quarter valued at approximately $26,000. Stonebridge Financial Group LLC acquired a new stake in shares of Manulife Financial in the fourth quarter valued at approximately $34,000. Golden State Wealth Management LLC acquired a new stake in shares of Manulife Financial in the fourth quarter valued at approximately $35,000. Finally, CKW Financial Group acquired a new stake in Manulife Financial during the fourth quarter worth approximately $37,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on MFC shares. Royal Bank of Canada raised their target price on shares of 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 research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $45.50.

Manulife Financial Stock Performance

Shares of NYSE MFC opened at $29.27 on Thursday. The firm has a market cap of $50.43 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. The firm’s 50 day moving average price is $30.14 and its 200 day moving average price is $30.17. Manulife Financial Co. has a 1 year low of $22.61 and a 1 year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.07. The company had revenue of $9.31 billion for the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. As a group, equities analysts predict 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 will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a $0.3094 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.23%. 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. Manulife Financial’s dividend payout ratio (DPR) is 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.