Hillsdale Investment Management Inc. Has $78.11 Million Holdings in Manulife Financial Co. (NYSE:MFC)

Hillsdale Investment Management Inc. lifted its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 216.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,545,393 shares of the financial services provider’s stock after buying an additional 1,739,853 shares during the quarter. Manulife Financial comprises 3.9% of Hillsdale Investment Management Inc.’s investment portfolio, making the stock its 2nd largest holding. Hillsdale Investment Management Inc. owned 0.15% of Manulife Financial worth $78,110,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Brooklyn Investment Group bought a new stake in Manulife Financial during the third quarter worth approximately $26,000. Crews Bank & Trust bought a new stake in Manulife Financial during the fourth quarter worth approximately $26,000. Lee Danner & Bass Inc. bought a new stake in Manulife Financial during the fourth quarter worth approximately $31,000. Stonebridge Financial Group LLC bought a new stake in Manulife Financial during the fourth quarter worth approximately $34,000. Finally, Golden State Wealth Management LLC bought a new stake in Manulife Financial during the fourth quarter worth approximately $35,000. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Trading Down 0.3 %

Shares of NYSE MFC opened at $30.45 on Friday. The business has a fifty day simple moving average of $30.05 and a 200 day simple moving average of $30.27. The firm has a market capitalization of $52.45 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a one year low of $22.61 and a one year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates 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, research analysts anticipate that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.3094 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.06%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, March 5th. Manulife Financial’s dividend payout ratio is presently 58.45%.

Analysts Set New Price Targets

MFC has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price target on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $45.50.

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.