DGS Capital Management LLC Raises Holdings in Manulife Financial Co. (NYSE:MFC)

DGS Capital Management LLC raised its holdings in Manulife Financial Co. (NYSE:MFCFree Report) (TSE:MFC) by 5.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,374 shares of the financial services provider’s stock after purchasing an additional 2,281 shares during the quarter. DGS Capital Management LLC’s holdings in Manulife Financial were worth $1,184,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Bruce G. Allen Investments LLC lifted its stake in Manulife Financial by 73.6% during the first quarter. Bruce G. Allen Investments LLC now owns 1,156 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 490 shares in the last quarter. Anchor Investment Management LLC purchased a new position in Manulife Financial during the 4th quarter valued at about $27,000. Fortis Group Advisors LLC boosted its holdings in Manulife Financial by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 1,210 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 605 shares during the period. Creekmur Asset Management LLC acquired a new position in Manulife Financial in the 4th quarter valued at about $30,000. Finally, Goodman Advisory Group LLC purchased a new stake in Manulife Financial during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

Separately, National Bank Financial raised shares of Manulife Financial from a “sector perform” rating to an “outperform” rating in a research note on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $33.33.

Check Out Our Latest Research Report on MFC

Manulife Financial Stock Performance

Shares of MFC opened at $25.89 on Thursday. Manulife Financial Co. has a 1 year low of $17.07 and a 1 year high of $26.81. The stock has a market capitalization of $46.34 billion, a PE ratio of 15.05, a PEG ratio of 0.97 and a beta of 1.09. The stock has a 50-day simple moving average of $25.21 and a 200-day simple moving average of $23.71.

Manulife Financial (NYSE:MFCGet Free Report) (TSE:MFC) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.04. Manulife Financial had a net margin of 9.28% and a return on equity of 16.27%. The company had revenue of $9.49 billion during the quarter, compared to the consensus estimate of $8.85 billion. Analysts predict that Manulife Financial Co. will post 2.74 EPS for the current year.

Manulife Financial Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were paid a dividend of $0.29 per share. The ex-dividend date was Tuesday, May 21st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.48%. Manulife Financial’s payout ratio is currently 67.44%.

About Manulife Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Manulife Financial (NYSE:MFC)

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