1,726 Shares in Manulife Financial Co. (NYSE:MFC) Bought by Graney & King LLC

Graney & King LLC purchased a new stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,726 shares of the financial services provider’s stock, valued at approximately $53,000.

Several other large investors have also made changes to their positions in MFC. Brooklyn Investment Group purchased a new position in Manulife Financial during the third quarter valued at $26,000. Crews Bank & Trust bought a new stake in shares of Manulife Financial in the fourth quarter worth about $26,000. Lee Danner & Bass Inc. purchased a new stake in shares of Manulife Financial in the fourth quarter worth about $31,000. Stonebridge Financial Group LLC bought a new position in Manulife Financial during the fourth quarter valued at approximately $34,000. Finally, Golden State Wealth Management LLC purchased a new position in Manulife Financial during the 4th quarter valued at approximately $35,000. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Manulife Financial Price Performance

Shares of MFC stock opened at $31.13 on Thursday. The company has a market cap of $53.62 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. The stock’s 50 day simple moving average is $30.13 and its two-hundred day simple moving average is $30.37. Manulife Financial Co. has a 1 year low of $22.61 and a 1 year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.07. The company had revenue of $9.31 billion for the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. Equities research analysts expect that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a dividend of $0.3094 per share. The ex-dividend date was Wednesday, March 5th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.98%. Manulife Financial’s payout ratio is currently 58.45%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MFC. Royal Bank of Canada upped their price objective on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $45.50.

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.