Beverly Hills Private Wealth LLC Has $490,000 Holdings in Manulife Financial Co. (NYSE:MFC)

Beverly Hills Private Wealth LLC decreased its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,165 shares of the financial services provider’s stock after selling 844 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Manulife Financial were worth $490,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisory Services Network LLC lifted its holdings in Manulife Financial by 2.6% in the first quarter. Advisory Services Network LLC now owns 21,796 shares of the financial services provider’s stock valued at $400,000 after buying an additional 543 shares during the period. Blue Trust Inc. lifted its stake in shares of Manulife Financial by 5.7% in the 4th quarter. Blue Trust Inc. now owns 10,465 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 568 shares during the period. First Affirmative Financial Network boosted its position in shares of Manulife Financial by 6.0% during the 4th quarter. First Affirmative Financial Network now owns 10,604 shares of the financial services provider’s stock valued at $234,000 after purchasing an additional 600 shares in the last quarter. Advisor Partners II LLC boosted its position in shares of Manulife Financial by 1.9% during the 3rd quarter. Advisor Partners II LLC now owns 32,217 shares of the financial services provider’s stock valued at $589,000 after purchasing an additional 610 shares in the last quarter. Finally, Brinker Capital Investments LLC grew its stake in Manulife Financial by 5.3% during the first quarter. Brinker Capital Investments LLC now owns 12,449 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 624 shares during the period. Institutional investors and hedge funds own 52.56% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on MFC. Desjardins upgraded Manulife Financial from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. TheStreet raised shares of Manulife Financial from a “c+” rating to a “b” rating in a research note on Thursday, December 21st. BMO Capital Markets raised shares of Manulife Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $31.00 to $35.00 in a research report on Thursday, February 15th. Finally, Jefferies Financial Group initiated coverage on Manulife Financial in a research note on Thursday, February 22nd. They issued a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Manulife Financial presently has a consensus rating of “Moderate Buy” and an average price target of $33.33.

Manulife Financial Price Performance

NYSE:MFC opened at $23.10 on Monday. Manulife Financial Co. has a one year low of $17.07 and a one year high of $25.14. The company has a market cap of $41.61 billion, a PE ratio of 12.02, a PEG ratio of 0.86 and a beta of 1.08. The firm has a 50-day moving average of $23.93 and a 200-day moving average of $21.30.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.63 by $0.05. The firm had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $7.57 billion. Manulife Financial had a return on equity of 15.98% and a net margin of 10.42%. On average, equities research analysts expect that Manulife Financial Co. will post 2.71 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, February 28th were paid a dividend of $0.298 per share. This is a boost from Manulife Financial’s previous quarterly dividend of $0.26. This represents a $1.19 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date of this dividend was Tuesday, February 27th. Manulife Financial’s dividend payout ratio is presently 61.66%.

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.