3,193 Shares in Manulife Financial Co. (NYSE:MFC) Acquired by Belpointe Asset Management LLC

Belpointe Asset Management LLC acquired a new stake in shares of Manulife Financial Co. (NYSE:MFC – Get Rating) (TSE:MFC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,193 shares of the financial services provider’s stock, valued at approximately $57,000.

Several other large investors have also modified their holdings of the stock. Bessemer Group Inc. grew its position in Manulife Financial by 120.4% during the third quarter. Bessemer Group Inc. now owns 6,334 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 3,460 shares in the last quarter. Cantor Fitzgerald L. P. lifted its stake in Manulife Financial by 46.5% in the third quarter. Cantor Fitzgerald L. P. now owns 126,860 shares of the financial services provider’s stock valued at $1,988,000 after acquiring an additional 40,240 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Manulife Financial by 50.7% in the 3rd quarter. SG Americas Securities LLC now owns 19,771 shares of the financial services provider’s stock valued at $310,000 after purchasing an additional 6,654 shares during the last quarter. Schechter Investment Advisors LLC raised its stake in shares of Manulife Financial by 22.8% in the 3rd quarter. Schechter Investment Advisors LLC now owns 27,320 shares of the financial services provider’s stock valued at $428,000 after acquiring an additional 5,069 shares in the last quarter. Finally, JCIC Asset Management Inc. raised its position in shares of Manulife Financial by 16.7% in the third quarter. JCIC Asset Management Inc. now owns 5,800 shares of the financial services provider’s stock valued at $96,000 after purchasing an additional 830 shares during the period. 43.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. Desjardins lifted their price target on Manulife Financial from C$26.00 to C$28.00 in a research report on Friday, February 17th. Royal Bank of Canada raised their price target on shares of Manulife Financial from C$26.00 to C$28.00 and gave the stock a “sector perform” rating in a research report on Friday, February 17th. National Bank Financial upped their price objective on shares of Manulife Financial from C$26.00 to C$27.00 in a research report on Thursday, February 16th. StockNews.com initiated coverage on Manulife Financial in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Scotiabank upped their price target on Manulife Financial from C$27.00 to C$34.00 in a report on Monday, January 30th.

Manulife Financial Stock Performance

Shares of NYSE:MFC opened at $19.34 on Tuesday. The business has a fifty day moving average of $18.89 and a 200-day moving average of $18.67. The firm has a market cap of $35.70 billion, a PE ratio of 8.87, a price-to-earnings-growth ratio of 0.79 and a beta of 1.11. Manulife Financial Co. has a twelve month low of $14.92 and a twelve month high of $20.40.

Manulife Financial Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 19th. Shareholders of record on Wednesday, May 24th will be issued a dividend of $0.269 per share. The ex-dividend date of this dividend is Tuesday, May 23rd. This represents a $1.08 annualized dividend and a yield of 5.56%. Manulife Financial’s dividend payout ratio is currently 50.46%.

Manulife Financial Profile

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Manulife Financial Corp. engages in the provision of financial services. It operates through the following segments: Asia, Canada, U.S., Global Wealth and Asset Management, and Corporate and Other. The Asia segment refers to insurance and insurance-based wealth accumulation products in Asia. The Canada segment offers insurance-based wealth accumulation products and banking services in Canada.