Addison Advisors LLC Increases Position in Manulife Financial Co. (NYSE:MFC)

Addison Advisors LLC lifted its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 45.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,428 shares of the financial services provider’s stock after purchasing an additional 449 shares during the quarter. Addison Advisors LLC’s holdings in Manulife Financial were worth $44,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Baron Wealth Management LLC grew its stake in shares of Manulife Financial by 2.3% in the 3rd quarter. Baron Wealth Management LLC now owns 14,400 shares of the financial services provider’s stock worth $426,000 after buying an additional 330 shares in the last quarter. Little House Capital LLC grew its stake in shares of Manulife Financial by 1.0% in the 4th quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider’s stock worth $1,037,000 after buying an additional 331 shares in the last quarter. Robertson Stephens Wealth Management LLC grew its stake in shares of Manulife Financial by 1.5% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 23,068 shares of the financial services provider’s stock worth $708,000 after buying an additional 339 shares in the last quarter. Americana Partners LLC grew its stake in shares of Manulife Financial by 0.5% in the 3rd quarter. Americana Partners LLC now owns 69,967 shares of the financial services provider’s stock worth $2,068,000 after buying an additional 364 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. grew its stake in shares of Manulife Financial by 3.4% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 15,817 shares of the financial services provider’s stock worth $486,000 after buying an additional 516 shares in the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MFC shares. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada raised their target price on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Manulife Financial has an average rating of “Buy” and an average target price of $45.50.

Manulife Financial Trading Up 2.0 %

Manulife Financial stock opened at $30.74 on Wednesday. The firm has a 50-day moving average price of $30.30 and a 200-day moving average price of $29.91. The firm has a market capitalization of $52.97 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.11 and a beta of 1.09. Manulife Financial Co. has a 12-month low of $22.61 and a 12-month high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.07. The firm had revenue of $9.31 billion during the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. As a group, sell-side analysts predict that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.3094 per share. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a yield of 4.03%. Manulife Financial’s dividend payout ratio (DPR) is presently 58.45%.

Manulife Financial 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.