Armstrong Advisory Group Inc. Acquires 1,744 Shares of Manulife Financial Co. (NYSE:MFC)

Armstrong Advisory Group Inc. increased its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 82.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,858 shares of the financial services provider’s stock after purchasing an additional 1,744 shares during the period. Armstrong Advisory Group Inc.’s holdings in Manulife Financial were worth $73,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Duality Advisers LP bought a new stake in Manulife Financial during the first quarter worth approximately $2,631,000. DGS Capital Management LLC boosted its holdings in shares of Manulife Financial by 10.6% during the 1st quarter. DGS Capital Management LLC now owns 33,973 shares of the financial services provider’s stock worth $624,000 after buying an additional 3,243 shares during the period. Ontario Teachers Pension Plan Board grew its stake in Manulife Financial by 122.0% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 69,305 shares of the financial services provider’s stock valued at $1,272,000 after buying an additional 38,092 shares during the last quarter. Macquarie Group Ltd. bought a new position in Manulife Financial in the 1st quarter worth $124,000. Finally, Ameriprise Financial Inc. raised its holdings in Manulife Financial by 33.5% in the 1st quarter. Ameriprise Financial Inc. now owns 331,051 shares of the financial services provider’s stock worth $6,867,000 after acquiring an additional 83,021 shares during the period. 45.02% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Trading Up 2.0 %

Shares of NYSE MFC opened at $19.24 on Friday. Manulife Financial Co. has a one year low of $14.92 and a one year high of $20.40. The business has a fifty day simple moving average of $18.91 and a 200 day simple moving average of $18.94. The firm has a market capitalization of $35.18 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 0.77 and a beta of 1.12.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Manulife Financial had a net margin of 11.87% and a return on equity of 13.53%. The company had revenue of $9 billion during the quarter, compared to the consensus estimate of $11.31 billion. On average, research analysts anticipate that Manulife Financial Co. will post 2.44 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Wednesday, August 23rd will be paid a $0.276 dividend. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a dividend yield of 5.74%. The ex-dividend date of this dividend is Tuesday, August 22nd. Manulife Financial’s dividend payout ratio is currently 52.11%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. StockNews.com initiated coverage on Manulife Financial in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Barclays boosted their target price on shares of Manulife Financial from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, August 11th.

Manulife Financial Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, 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.