Private Trust Co. NA Purchases 1,100 Shares of Manulife Financial Co. (NYSE:MFC)

Private Trust Co. NA raised its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 31.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 4,547 shares of the financial services provider’s stock after acquiring an additional 1,100 shares during the quarter. Private Trust Co. NA’s holdings in Manulife Financial were worth $134,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brown Brothers Harriman & Co. boosted its position in shares of Manulife Financial by 180.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 19,661 shares of the financial services provider’s stock worth $581,000 after purchasing an additional 12,654 shares in the last quarter. DRW Securities LLC purchased a new stake in Manulife Financial in the third quarter valued at about $1,008,000. Harvest Fund Management Co. Ltd boosted its holdings in Manulife Financial by 56.4% in the third quarter. Harvest Fund Management Co. Ltd now owns 27,736 shares of the financial services provider’s stock worth $820,000 after acquiring an additional 9,997 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Manulife Financial by 31.1% during the third quarter. Cerity Partners LLC now owns 126,138 shares of the financial services provider’s stock worth $3,727,000 after acquiring an additional 29,918 shares during the last quarter. Finally, Nwam LLC acquired a new position in shares of Manulife Financial during the third quarter valued at about $815,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Price Performance

Shares of Manulife Financial stock opened at $32.17 on Friday. Manulife Financial Co. has a 1 year low of $19.23 and a 1 year high of $33.07. The stock has a market cap of $56.35 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 1.17 and a beta of 1.08. The firm has a fifty day moving average price of $30.73 and a 200 day moving average price of $27.91.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.30. The business had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same quarter in the previous year, the firm posted $0.69 EPS. As a group, equities analysts expect that Manulife Financial Co. will post 2.72 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.296 per share. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.68%. Manulife Financial’s dividend payout ratio (DPR) is presently 57.00%.

Analyst Ratings Changes

MFC has been the topic of several research analyst reports. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Barclays began coverage on Manulife Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating on the stock. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $37.50.

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.