Essential Planning LLC. Makes New $234,000 Investment in Manulife Financial Co. (NYSE:MFC)

Essential Planning LLC. purchased a new position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,505 shares of the financial services provider’s stock, valued at approximately $234,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crews Bank & Trust purchased a new stake in shares of Manulife Financial in the fourth quarter valued at $26,000. Brooklyn Investment Group acquired a new position in Manulife Financial in the third quarter valued at $26,000. Stonebridge Financial Group LLC acquired a new position in Manulife Financial in the fourth quarter valued at $34,000. Golden State Wealth Management LLC acquired a new position in Manulife Financial in the fourth quarter valued at $35,000. Finally, CKW Financial Group acquired a new position in Manulife Financial in the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Price Performance

Shares of MFC opened at $28.41 on Friday. Manulife Financial Co. has a 12 month low of $22.61 and a 12 month high of $33.07. The stock’s 50-day moving average is $30.10 and its two-hundred day moving average is $30.16. The stock has a market cap of $48.93 billion, a PE ratio of 13.72, a P/E/G ratio of 1.11 and a beta of 1.05.

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

Manulife Financial Increases Dividend

The company 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 $0.3094 dividend. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Wednesday, March 5th. Manulife Financial’s payout ratio is currently 58.45%.

Wall Street Analysts Forecast Growth

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