Redhawk Wealth Advisors Inc. Acquires 5,369 Shares of Manulife Financial Co. (NYSE:MFC)

Redhawk Wealth Advisors Inc. boosted its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 11.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 54,087 shares of the financial services provider’s stock after purchasing an additional 5,369 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in Manulife Financial were worth $1,661,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Brooklyn Investment Group acquired a new position in shares of Manulife Financial during the third quarter valued at about $26,000. West Financial Advisors LLC bought a new position in Manulife Financial during the third quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new position in Manulife Financial in the 3rd quarter valued at approximately $30,000. Fortitude Family Office LLC bought a new stake in shares of Manulife Financial in the 3rd quarter worth approximately $31,000. Finally, Tsfg LLC grew its holdings in shares of Manulife Financial by 103.8% during the 3rd quarter. Tsfg LLC now owns 1,404 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 715 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Trading Up 2.8 %

MFC opened at $30.68 on Thursday. The stock has a market cap of $53.04 billion, a PE ratio of 14.82, a P/E/G ratio of 1.01 and a beta of 1.09. Manulife Financial Co. has a 1 year low of $20.78 and a 1 year high of $33.07. The stock’s 50 day simple moving average is $31.38 and its 200-day simple moving average is $29.04.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.30. The company had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $9.73 billion. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. During the same quarter in the prior year, the company posted $0.69 EPS. Equities analysts forecast that Manulife Financial Co. will post 2.71 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th were given a $0.296 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 3.86%. This is a boost 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 is 59.42%.

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.