Stifel Financial Corp Has $4.39 Million Stake in Manulife Financial Co. (NYSE:MFC)

Stifel Financial Corp increased its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 148,683 shares of the financial services provider’s stock after purchasing an additional 859 shares during the quarter. Stifel Financial Corp’s holdings in Manulife Financial were worth $4,394,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Quantinno Capital Management LP boosted its position in Manulife Financial by 6.5% during the third quarter. Quantinno Capital Management LP now owns 150,813 shares of the financial services provider’s stock valued at $4,457,000 after purchasing an additional 9,170 shares during the last quarter. Benjamin Edwards Inc. raised its stake in shares of Manulife Financial by 260.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 145,124 shares of the financial services provider’s stock worth $4,289,000 after purchasing an additional 104,894 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Manulife Financial during the 3rd quarter valued at about $2,036,000. Verition Fund Management LLC grew its stake in shares of Manulife Financial by 3.8% in the 3rd quarter. Verition Fund Management LLC now owns 33,765 shares of the financial services provider’s stock valued at $998,000 after buying an additional 1,230 shares in the last quarter. Finally, Financial Counselors Inc. increased its holdings in Manulife Financial by 57.4% in the third quarter. Financial Counselors Inc. now owns 18,984 shares of the financial services provider’s stock worth $561,000 after buying an additional 6,923 shares during the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Stock Performance

Shares of MFC stock opened at $30.93 on Monday. The company has a market capitalization of $54.19 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 1.16 and a beta of 1.09. The stock’s 50 day simple moving average is $31.19 and its 200 day simple moving average is $28.32. Manulife Financial Co. has a twelve month low of $20.78 and a twelve month high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data 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. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The business had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $9.73 billion. During the same period in the previous year, the company earned $0.69 earnings per share. On average, analysts forecast that Manulife Financial Co. will post 2.72 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be given a $0.296 dividend. 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 3.83%. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is currently 57.00%.

Analyst Ratings Changes

Separately, Barclays initiated coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating for the company. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $37.50.

Manulife Financial 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.