Lewis Asset Management LLC Raises Stake in Manulife Financial Co. (NYSE:MFC)

Lewis Asset Management LLC raised its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 21.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,791 shares of the financial services provider’s stock after purchasing an additional 1,713 shares during the quarter. Lewis Asset Management LLC’s holdings in Manulife Financial were worth $301,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its position in Manulife Financial by 16.4% during the third quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider’s stock valued at $61,426,000 after acquiring an additional 279,418 shares in the last quarter. Sanctuary Advisors LLC grew its position in Manulife Financial by 148.9% during the third quarter. Sanctuary Advisors LLC now owns 73,346 shares of the financial services provider’s stock valued at $2,382,000 after buying an additional 43,877 shares during the period. AEGON ASSET MANAGEMENT UK Plc increased its holdings in Manulife Financial by 14.9% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 88,631 shares of the financial services provider’s stock valued at $2,719,000 after buying an additional 11,509 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Manulife Financial in the third quarter worth about $13,318,000. Finally, DRW Securities LLC purchased a new stake in shares of Manulife Financial during the 3rd quarter worth about $1,008,000. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Stock Up 0.5 %

Shares of Manulife Financial stock opened at $30.38 on Thursday. The firm has a market cap of $52.51 billion, a PE ratio of 14.67, a P/E/G ratio of 1.05 and a beta of 1.09. Manulife Financial Co. has a twelve month low of $21.54 and a twelve month high of $33.07. The business has a 50-day moving average price of $31.03 and a 200 day moving average price of $29.30.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The business had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $9.73 billion. During the same period in the previous year, the business earned $0.69 earnings per share. On average, sell-side analysts expect that Manulife Financial Co. will post 2.69 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th were issued a dividend of $0.296 per share. This represents a $1.18 annualized dividend and a yield of 3.90%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Wednesday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is presently 59.42%.

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.