Redhawk Wealth Advisors Inc. Grows Holdings in Manulife Financial Co. (NYSE:MFC)

Redhawk Wealth Advisors Inc. grew its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 4.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,718 shares of the financial services provider’s stock after purchasing an additional 2,206 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Manulife Financial were worth $1,440,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Integrated Advisors Network LLC increased its position in shares of Manulife Financial by 17.2% during the fourth quarter. Integrated Advisors Network LLC now owns 18,746 shares of the financial services provider’s stock worth $414,000 after acquiring an additional 2,750 shares during the period. Creekmur Asset Management LLC bought a new stake in Manulife Financial during the 4th quarter valued at $30,000. Fortis Group Advisors LLC lifted its holdings in shares of Manulife Financial by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 1,210 shares of the financial services provider’s stock worth $27,000 after buying an additional 605 shares during the period. Tucker Asset Management LLC bought a new position in shares of Manulife Financial during the 4th quarter worth $73,000. Finally, Wellington Management Group LLP increased its stake in shares of Manulife Financial by 4.0% during the fourth quarter. Wellington Management Group LLP now owns 424,195 shares of the financial services provider’s stock valued at $9,419,000 after buying an additional 16,457 shares during the period. 52.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on MFC shares. TD Securities upped their price objective on shares of Manulife Financial from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Barclays started coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating for the company. Finally, Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Manulife Financial has an average rating of “Buy” and a consensus target price of $35.67.

Manulife Financial Stock Performance

MFC stock opened at $30.39 on Monday. The firm has a 50-day simple moving average of $27.66 and a two-hundred day simple moving average of $26.20. Manulife Financial Co. has a one year low of $17.07 and a one year high of $30.52. The firm has a market cap of $54.39 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 1.09 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.27. The company had revenue of $9.41 billion during the quarter, compared to analysts’ expectations of $8.95 billion. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. During the same quarter in the prior year, the company posted $0.62 earnings per share. As a group, equities analysts predict that Manulife Financial Co. will post 2.73 earnings per share for the current fiscal year.

Manulife Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 21st were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend was Wednesday, August 21st. Manulife Financial’s dividend payout ratio is currently 66.86%.

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.