Wilmington Savings Fund Society FSB Invests $119,000 in Manulife Financial Co. (NYSE:MFC)

Wilmington Savings Fund Society FSB bought a new stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 4,011 shares of the financial services provider’s stock, valued at approximately $119,000.

Other hedge funds also recently bought and sold shares of the company. Grove Bank & Trust bought a new stake in Manulife Financial during the second quarter valued at about $25,000. West Financial Advisors LLC purchased a new position in Manulife Financial in the 3rd quarter worth approximately $26,000. Brooklyn Investment Group purchased a new position in Manulife Financial in the 3rd quarter worth approximately $26,000. Addison Advisors LLC boosted its stake in Manulife Financial by 77.2% in the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 467 shares during the period. Finally, HHM Wealth Advisors LLC raised its position in shares of Manulife Financial by 119.0% during the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock valued at $29,000 after buying an additional 600 shares during the last quarter. Institutional investors own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barclays started coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They set an “equal weight” rating for the company. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Manulife Financial currently has a consensus rating of “Buy” and a consensus target price of $37.50.

Manulife Financial Stock Up 1.3 %

MFC stock opened at $30.08 on Friday. The company has a fifty day simple moving average of $31.23 and a two-hundred day simple moving average of $28.41. The firm has a market capitalization of $52.70 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 1.16 and a beta of 1.09. Manulife Financial Co. has a 52 week low of $20.78 and a 52 week high of $33.07.

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 company had revenue of $10.69 billion for the quarter, compared to analyst estimates of $9.73 billion. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. During the same period last year, the company posted $0.69 earnings per share. As a group, analysts anticipate 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 was paid on Thursday, December 19th. Investors of record on Wednesday, November 20th were paid a dividend of $0.296 per share. This represents a $1.18 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend was Wednesday, November 20th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s payout ratio is 57.00%.

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.