Guardian Partners Inc. Invests $5.89 Million in Manulife Financial Co. (NYSE:MFC)

Guardian Partners Inc. acquired a new position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 192,187 shares of the financial services provider’s stock, valued at approximately $5,893,000.

A number of other hedge funds also recently made changes to their positions in MFC. Brooklyn Investment Group bought a new stake in shares of Manulife Financial during the 3rd quarter worth $26,000. Crews Bank & Trust bought a new stake in shares of Manulife Financial during the 4th quarter worth $26,000. Lee Danner & Bass Inc. bought a new stake in shares of Manulife Financial during the 4th quarter worth $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Manulife Financial during the 4th quarter worth $34,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Manulife Financial during the 4th quarter worth $35,000. 52.56% of the stock is owned by institutional investors.

Manulife Financial Trading Down 0.3 %

MFC stock opened at $30.45 on Friday. The firm’s 50-day moving average price is $30.05 and its two-hundred day moving average price is $30.29. Manulife Financial Co. has a 12-month low of $22.61 and a 12-month high of $33.07. The stock has a market capitalization of $52.45 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 1.11 and a beta of 1.05.

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

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.3094 per share. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.06%. Manulife Financial’s payout ratio is presently 58.45%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Royal Bank of Canada lifted their target price on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $45.50.

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.