HB Wealth Management LLC Acquires 16,153 Shares of Manulife Financial Co. (NYSE:MFC)

HB Wealth Management LLC lifted its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 140.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,620 shares of the financial services provider’s stock after purchasing an additional 16,153 shares during the quarter. HB Wealth Management LLC’s holdings in Manulife Financial were worth $848,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MFC. National Bank of Canada FI increased its stake in Manulife Financial by 13.5% during the 3rd quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider’s stock worth $829,374,000 after acquiring an additional 3,329,892 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in Manulife Financial during the second quarter worth about $35,806,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Manulife Financial by 1,210.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,161,059 shares of the financial services provider’s stock valued at $30,922,000 after buying an additional 1,072,474 shares during the period. Bridgewater Associates LP lifted its holdings in shares of Manulife Financial by 169.6% during the 3rd quarter. Bridgewater Associates LP now owns 1,404,481 shares of the financial services provider’s stock worth $41,554,000 after acquiring an additional 883,624 shares during the period. Finally, Toronto Dominion Bank boosted its position in shares of Manulife Financial by 3.2% during the 2nd quarter. Toronto Dominion Bank now owns 24,057,503 shares of the financial services provider’s stock worth $640,411,000 after acquiring an additional 750,422 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Price Performance

Shares of MFC opened at $30.84 on Wednesday. The firm has a 50 day simple moving average of $31.28 and a two-hundred day simple moving average of $29.15. Manulife Financial Co. has a one year low of $21.24 and a one year high of $33.07. The company has a market cap of $53.31 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.05 and a beta of 1.09.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.30. The company had revenue of $10.69 billion during the quarter, compared to analysts’ expectations 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 EPS. On average, analysts expect that Manulife Financial Co. will post 2.69 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th were paid a $0.296 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date was Wednesday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is presently 59.42%.

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.