SG Americas Securities LLC Grows Stock Holdings in Manulife Financial Co. (NYSE:MFC)

SG Americas Securities LLC increased its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 27.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,440 shares of the financial services provider’s stock after purchasing an additional 11,164 shares during the period. SG Americas Securities LLC’s holdings in Manulife Financial were worth $1,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Lee Danner & Bass Inc. purchased a new position in shares of Manulife Financial during the 4th quarter valued at about $31,000. Lazard Asset Management LLC purchased a new position in Manulife Financial during the fourth quarter valued at approximately $35,000. Transce3nd LLC purchased a new position in Manulife Financial during the fourth quarter valued at approximately $42,000. Addison Advisors LLC lifted its holdings in Manulife Financial by 45.9% in the fourth quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 449 shares during the period. Finally, Millstone Evans Group LLC purchased a new stake in Manulife Financial in the 4th quarter worth approximately $44,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Price Performance

Shares of MFC stock opened at $31.15 on Monday. Manulife Financial Co. has a 1-year low of $23.30 and a 1-year high of $33.07. The company has a market cap of $53.35 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 1.11 and a beta of 1.01. The stock has a 50 day simple moving average of $30.73 and a 200-day simple moving average of $30.52.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.69 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.01). The company had revenue of $1.49 billion during the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. During the same period in the previous year, the firm posted $0.94 earnings per share. Analysts anticipate that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Wednesday, May 21st will be paid a $0.3194 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 4.10%. Manulife Financial’s dividend payout ratio (DPR) is currently 66.49%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MFC shares. Royal Bank of Canada lifted their target price on shares of Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Morgan Stanley set a $46.00 price objective on shares of Manulife Financial in a report on Monday, May 19th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Manulife Financial has an average rating of “Buy” and a consensus price target of $45.67.

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.