Manulife Financial Co. (NYSE:MFC) Shares Acquired by Corient Private Wealth LLC

Corient Private Wealth LLC raised its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 13.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,298 shares of the financial services provider’s stock after acquiring an additional 12,766 shares during the quarter. Corient Private Wealth LLC’s holdings in Manulife Financial were worth $3,418,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in Manulife Financial in the 3rd quarter valued at about $26,000. Crews Bank & Trust acquired a new stake in Manulife Financial in the 4th quarter valued at about $26,000. Stonebridge Financial Group LLC acquired a new stake in Manulife Financial in the 4th quarter valued at about $34,000. Golden State Wealth Management LLC acquired a new stake in Manulife Financial in the 4th quarter valued at about $35,000. Finally, CKW Financial Group acquired a new stake in Manulife Financial in the 4th quarter valued at about $37,000. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Trading Down 0.3 %

MFC stock opened at $30.45 on Friday. Manulife Financial Co. has a one year low of $22.61 and a one year high of $33.07. The firm has a market capitalization of $52.45 billion, a PE ratio of 14.71, a P/E/G ratio of 1.11 and a beta of 1.05. The firm has a 50-day moving average of $30.05 and a two-hundred day moving average of $30.29.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. The business had revenue of $9.31 billion during the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. On average, equities research analysts anticipate that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given 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 58.45%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MFC shares. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada upped their price objective on shares of Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price 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.