NewEdge Wealth LLC Purchases Shares of 9,452 Manulife Financial Co. (NYSE:MFC)

NewEdge Wealth LLC acquired a new stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,452 shares of the financial services provider’s stock, valued at approximately $209,000.

Several other institutional investors and hedge funds have also made changes to their positions in MFC. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Manulife Financial in the third quarter valued at approximately $27,000. Anchor Investment Management LLC bought a new position in shares of Manulife Financial in the fourth quarter valued at approximately $27,000. Sanctuary Wealth Management L.L.C. bought a new position in shares of Manulife Financial in the fourth quarter valued at approximately $27,000. Trust Co. of Vermont boosted its holdings in shares of Manulife Financial by 478.5% in the third quarter. Trust Co. of Vermont now owns 1,533 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 1,268 shares in the last quarter. Finally, Arlington Trust Co LLC bought a new position in shares of Manulife Financial in the third quarter valued at approximately $29,000. 52.56% of the stock is currently owned by institutional investors.

Manulife Financial Trading Up 0.5 %

NYSE:MFC opened at $22.94 on Friday. Manulife Financial Co. has a 1 year low of $17.07 and a 1 year high of $25.14. The firm’s fifty day simple moving average is $23.98 and its 200 day simple moving average is $21.39. The firm has a market capitalization of $41.31 billion, a PE ratio of 11.88, a PEG ratio of 0.84 and a beta of 1.08.

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

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, February 28th were paid a $0.298 dividend. The ex-dividend date was Tuesday, February 27th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.26. This represents a $1.19 dividend on an annualized basis and a yield of 5.20%. Manulife Financial’s dividend payout ratio (DPR) is presently 61.66%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MFC shares. Desjardins upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. TheStreet upgraded shares of Manulife Financial from a “c+” rating to a “b” rating in a research report on Thursday, December 21st. Jefferies Financial Group started coverage on shares of Manulife Financial in a research report on Thursday, February 22nd. They issued a “buy” rating for the company. Finally, BMO Capital Markets upgraded shares of Manulife Financial from a “market perform” rating to an “outperform” rating and raised their price target for the company from $31.00 to $35.00 in a report on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Manulife Financial presently has an average rating of “Moderate Buy” and an average price target of $33.33.

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.