Bfsg LLC Invests $87,000 in Manulife Financial Co. (NYSE:MFC)

Bfsg LLC purchased a new position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,935 shares of the financial services provider’s stock, valued at approximately $87,000.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Manulife Financial by 1.5% in the third quarter. Vanguard Group Inc. now owns 71,526,674 shares of the financial services provider’s stock worth $1,307,508,000 after purchasing an additional 1,086,776 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Manulife Financial by 4.2% during the third quarter. Legal & General Group Plc now owns 11,138,365 shares of the financial services provider’s stock worth $204,468,000 after purchasing an additional 446,444 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Manulife Financial by 7.8% during the third quarter. JPMorgan Chase & Co. now owns 10,680,517 shares of the financial services provider’s stock worth $195,240,000 after acquiring an additional 775,135 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Manulife Financial by 1.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,445,466 shares of the financial services provider’s stock valued at $172,663,000 after buying an additional 119,192 shares during the last quarter. Finally, AustralianSuper Pty Ltd increased its stake in Manulife Financial by 11.2% in the 4th quarter. AustralianSuper Pty Ltd now owns 5,793,161 shares of the financial services provider’s stock valued at $128,019,000 after buying an additional 582,468 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MFC has been the subject of several research analyst reports. Desjardins raised shares of Manulife Financial from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. BMO Capital Markets upgraded shares of Manulife Financial from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $31.00 to $35.00 in a report on Thursday, February 15th. Finally, Jefferies Financial Group began coverage on shares of Manulife Financial in a research report on Thursday, February 22nd. They set a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Manulife Financial presently has an average rating of “Moderate Buy” and a consensus price target of $33.33.

Manulife Financial Price Performance

NYSE:MFC traded down $0.29 during trading hours on Thursday, reaching $23.19. The company had a trading volume of 438,157 shares, compared to its average volume of 3,196,409. The firm has a market cap of $41.77 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 0.87 and a beta of 1.08. The business’s 50 day moving average price is $24.05 and its 200-day moving average price is $21.57. Manulife Financial Co. has a 1-year low of $17.07 and a 1-year high of $25.14.

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

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, February 28th were paid a $0.298 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.26. This represents a $1.19 annualized dividend and a dividend yield of 5.14%. The ex-dividend date of this dividend was Tuesday, February 27th. Manulife Financial’s dividend payout ratio (DPR) is 61.66%.

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.