Manulife Financial Co. (NYSE:MFC) Shares Bought by LPL Financial LLC

LPL Financial LLC increased its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 395,878 shares of the financial services provider’s stock after buying an additional 7,514 shares during the quarter. LPL Financial LLC’s holdings in Manulife Financial were worth $7,268,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in MFC. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Manulife Financial in the 4th quarter valued at approximately $27,000. Arlington Partners LLC purchased a new stake in Manulife Financial in the first quarter valued at approximately $29,000. Clearstead Advisors LLC increased its position in Manulife Financial by 249.3% during the 1st quarter. Clearstead Advisors LLC now owns 1,638 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,169 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in Manulife Financial in the first quarter valued at approximately $33,000. Finally, GPS Wealth Strategies Group LLC acquired a new stake in Manulife Financial during the 1st quarter valued at approximately $35,000. Institutional investors and hedge funds own 40.71% of the company’s stock.

Manulife Financial Stock Performance

Shares of NYSE:MFC opened at $18.38 on Wednesday. The firm has a 50 day simple moving average of $18.90 and a 200 day simple moving average of $19.03. Manulife Financial Co. has a 52 week low of $14.92 and a 52 week high of $20.40. The company has a market cap of $33.60 billion, a PE ratio of 8.63, a price-to-earnings-growth ratio of 0.73 and a beta of 1.10.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $9 billion for the quarter, compared to the consensus estimate of $11.31 billion. Manulife Financial had a return on equity of 13.53% and a net margin of 11.87%. On average, equities analysts predict that Manulife Financial Co. will post 2.44 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Wednesday, August 23rd will be paid a dividend of $0.276 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 6.01%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.27. Manulife Financial’s dividend payout ratio (DPR) is 51.64%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MFC. Barclays boosted their price objective on Manulife Financial from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, August 11th. StockNews.com started coverage on shares of Manulife Financial in a research report on Thursday, August 17th. They issued a “hold” rating on the stock.

Manulife Financial Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, 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.