Cerity Partners LLC Increases Holdings in Manulife Financial Co. (NYSE:MFC)

Cerity Partners LLC increased its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 31.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,138 shares of the financial services provider’s stock after purchasing an additional 29,918 shares during the quarter. Cerity Partners LLC’s holdings in Manulife Financial were worth $3,727,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Baron Wealth Management LLC increased its stake in shares of Manulife Financial by 2.3% during the third quarter. Baron Wealth Management LLC now owns 14,400 shares of the financial services provider’s stock valued at $426,000 after buying an additional 330 shares during the period. Americana Partners LLC increased its position in Manulife Financial by 0.5% during the 3rd quarter. Americana Partners LLC now owns 69,967 shares of the financial services provider’s stock valued at $2,068,000 after purchasing an additional 364 shares during the period. Indiana Trust & Investment Management CO increased its position in Manulife Financial by 22.2% during the 2nd quarter. Indiana Trust & Investment Management CO now owns 2,540 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 462 shares during the period. Addison Advisors LLC raised its holdings in shares of Manulife Financial by 77.2% in the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 467 shares in the last quarter. Finally, LRI Investments LLC lifted its position in shares of Manulife Financial by 8.6% in the 2nd quarter. LRI Investments LLC now owns 6,819 shares of the financial services provider’s stock worth $182,000 after purchasing an additional 542 shares during the period. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MFC has been the subject of a number of recent research reports. Barclays initiated coverage on shares of Manulife Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating for the company. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $37.50.

Manulife Financial Trading Up 0.9 %

Shares of MFC opened at $32.17 on Friday. The firm has a market cap of $56.35 billion, a PE ratio of 15.54, a P/E/G ratio of 1.17 and a beta of 1.08. Manulife Financial Co. has a 12 month low of $19.23 and a 12 month high of $33.07. The stock has a fifty day moving average price of $30.73 and a 200-day moving average price of $27.91.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.30. The business had revenue of $10.69 billion for the quarter, compared to analyst estimates of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same quarter in the previous year, the firm earned $0.69 earnings per share. As a group, research analysts forecast that Manulife Financial Co. will post 2.72 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.296 per share. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial’s payout ratio is presently 57.00%.

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.