Bfsg LLC Takes $87,000 Position in Manulife Financial Co. (NYSE:MFC)

Bfsg LLC acquired a new stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,935 shares of the financial services provider’s stock, valued at approximately $87,000.

Several other hedge funds have also modified their holdings of MFC. Lorne Steinberg Wealth Management Inc. increased its holdings in Manulife Financial by 0.6% during the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 201,094 shares of the financial services provider’s stock worth $4,445,000 after purchasing an additional 1,117 shares during the last quarter. PDS Planning Inc bought a new position in shares of Manulife Financial in the fourth quarter worth $204,000. Foster & Motley Inc. grew its stake in shares of Manulife Financial by 22.5% in the fourth quarter. Foster & Motley Inc. now owns 310,405 shares of the financial services provider’s stock worth $6,860,000 after purchasing an additional 56,936 shares in the last quarter. CWM LLC lifted its holdings in shares of Manulife Financial by 24.8% in the fourth quarter. CWM LLC now owns 15,690 shares of the financial services provider’s stock valued at $347,000 after buying an additional 3,120 shares during the period. Finally, Goodman Advisory Group LLC acquired a new stake in shares of Manulife Financial in the fourth quarter valued at $32,000. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Manulife Financial Stock Down 1.2 %

MFC stock traded down $0.29 during midday trading on Thursday, reaching $23.19. 438,157 shares of the company’s stock traded hands, compared to its average volume of 3,196,409. The company has a 50-day simple moving average of $24.05 and a two-hundred day simple moving average of $21.57. Manulife Financial Co. has a 1-year low of $17.07 and a 1-year high of $25.14. The company has a market cap of $41.77 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 0.87 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. The business had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $7.57 billion. Manulife Financial had a return on equity of 15.98% and a net margin of 10.42%. Equities research analysts forecast that Manulife Financial Co. will post 2.71 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date of this dividend was Tuesday, February 27th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.26. Manulife Financial’s payout ratio is 61.66%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MFC shares. Jefferies Financial Group started coverage on Manulife Financial in a report on Thursday, February 22nd. They set a “buy” rating for the company. BMO Capital Markets raised Manulife Financial from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $31.00 to $35.00 in a research report on Thursday, February 15th. Finally, Desjardins raised Manulife Financial from a “hold” rating to a “buy” rating in a research report on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.33.

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.