Manulife Financial Co. (NYSE:MFC) Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management grew its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 20.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 150,058 shares of the financial services provider’s stock after buying an additional 25,769 shares during the quarter. Ritholtz Wealth Management’s holdings in Manulife Financial were worth $3,316,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MFC. BlackRock Inc. grew its stake in shares of Manulife Financial by 10.1% during the first quarter. BlackRock Inc. now owns 878,359 shares of the financial services provider’s stock worth $18,753,000 after purchasing an additional 80,450 shares in the last quarter. Raymond James Trust N.A. lifted its position in Manulife Financial by 7.9% in the first quarter. Raymond James Trust N.A. now owns 27,503 shares of the financial services provider’s stock valued at $587,000 after acquiring an additional 2,013 shares during the last quarter. Cetera Investment Advisers purchased a new stake in shares of Manulife Financial in the first quarter valued at about $428,000. Moors & Cabot Inc. raised its holdings in shares of Manulife Financial by 2.3% in the first quarter. Moors & Cabot Inc. now owns 43,078 shares of the financial services provider’s stock valued at $920,000 after buying an additional 956 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Manulife Financial by 32.7% during the first quarter. Sequoia Financial Advisors LLC now owns 14,560 shares of the financial services provider’s stock worth $311,000 after acquiring an additional 3,585 shares during the period. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Trading Up 1.3 %

Shares of MFC opened at $24.98 on Friday. The firm’s 50-day moving average is $23.29 and its two-hundred day moving average is $20.84. Manulife Financial Co. has a twelve month low of $17.07 and a twelve month high of $25.14. The firm has a market capitalization of $45.11 billion, a P/E ratio of 12.94, a PEG ratio of 0.91 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.63 by $0.05. The business had revenue of $10.96 billion for the quarter, compared to analyst estimates of $7.57 billion. Manulife Financial had a net margin of 10.42% and a return on equity of 15.98%. Analysts predict that Manulife Financial Co. will post 2.71 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, February 28th were paid a dividend of $0.298 per share. This is an increase from Manulife Financial’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.19 annualized dividend and a dividend yield of 4.77%. Manulife Financial’s dividend payout ratio is presently 61.66%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. TheStreet upgraded shares of Manulife Financial from a “c+” rating to a “b” rating in a research note on Thursday, December 21st. Royal Bank of Canada upgraded shares of Manulife Financial from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, December 12th. Desjardins upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. Jefferies Financial Group assumed coverage on shares of Manulife Financial in a research note on Thursday, February 22nd. They set a “buy” rating on the stock. Finally, BMO Capital Markets upgraded shares of Manulife Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $31.00 to $35.00 in a research note on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

Manulife Financial 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.