Jones Financial Companies Lllp Buys 181,884 Shares of Manulife Financial Co. (NYSE:MFC)

Jones Financial Companies Lllp raised its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 67.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 453,230 shares of the financial services provider’s stock after buying an additional 181,884 shares during the period. Jones Financial Companies Lllp’s holdings in Manulife Financial were worth $13,919,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MFC. Brooklyn Investment Group bought a new stake in Manulife Financial in the third quarter valued at approximately $26,000. Crews Bank & Trust bought a new position in Manulife Financial during the 4th quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new position in shares of Manulife Financial in the 3rd quarter worth approximately $30,000. Stonebridge Financial Group LLC bought a new stake in shares of Manulife Financial in the 4th quarter valued at $34,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Manulife Financial during the fourth quarter worth $35,000. Institutional investors own 52.56% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Manulife Financial Stock Up 1.2 %

NYSE:MFC opened at $31.15 on Monday. The firm has a market capitalization of $53.67 billion, a P/E ratio of 15.05, a P/E/G ratio of 1.11 and a beta of 1.09. Manulife Financial Co. has a twelve month low of $22.61 and a twelve month high of $33.07. The company has a fifty day moving average of $30.35 and a 200-day moving average of $30.02.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data 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 firm had revenue of $9.31 billion for the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. On average, analysts anticipate that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a $0.3094 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.24 annualized dividend and a yield of 3.97%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s dividend payout ratio is presently 58.45%.

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.