Dorsey & Whitney Trust CO LLC Invests $330,000 in Manulife Financial Co. (NYSE:MFC)

Dorsey & Whitney Trust CO LLC bought a new position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the 4th quarter, HoldingsChannel reports. The fund bought 10,741 shares of the financial services provider’s stock, valued at approximately $330,000.

Several other hedge funds and other institutional investors have also modified their holdings of MFC. Brooklyn Investment Group acquired a new stake in shares of Manulife Financial in the third quarter worth $26,000. Crews Bank & Trust acquired a new stake in shares of Manulife Financial in the fourth quarter worth $26,000. Capital Performance Advisors LLP acquired a new stake in shares of Manulife Financial in the third quarter worth $30,000. Stonebridge Financial Group LLC purchased a new stake in shares of Manulife Financial during the fourth quarter worth $34,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Manulife Financial during the fourth quarter worth $35,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Price Performance

NYSE MFC opened at $28.51 on Tuesday. Manulife Financial Co. has a fifty-two week low of $22.61 and a fifty-two week high of $33.07. The stock’s 50-day moving average is $30.21 and its two-hundred day moving average is $30.16. The firm has a market cap of $49.13 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.07. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The company had revenue of $9.31 billion for the quarter. On average, equities analysts expect that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.3094 per share. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend is Wednesday, March 5th. Manulife Financial’s dividend payout ratio (DPR) is 58.45%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MFC shares. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada increased their price objective on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $45.50.

About Manulife Financial

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.