Merit Financial Group LLC Takes Position in Manulife Financial Co. (NYSE:MFC)

Merit Financial Group LLC acquired a new position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 6,897 shares of the financial services provider’s stock, valued at approximately $212,000.

A number of other hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new position in Manulife Financial in the third quarter worth about $26,000. West Financial Advisors LLC bought a new position in shares of Manulife Financial in the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP purchased a new position in shares of Manulife Financial in the third quarter worth approximately $30,000. Fortitude Family Office LLC purchased a new stake in Manulife Financial during the third quarter valued at approximately $31,000. Finally, Tsfg LLC raised its position in Manulife Financial by 103.8% in the third quarter. Tsfg LLC now owns 1,404 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 715 shares during the period. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Price Performance

Shares of MFC stock opened at $30.53 on Monday. Manulife Financial Co. has a 1 year low of $21.54 and a 1 year high of $33.07. The firm has a fifty day moving average price of $31.12 and a 200-day moving average price of $29.24. The company has a market cap of $52.77 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.05 and a beta of 1.09.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The business had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. Equities research analysts expect that Manulife Financial Co. will post 2.69 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th were paid a dividend of $0.296 per share. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date was Wednesday, November 20th. This represents a $1.18 dividend on an annualized basis and a yield of 3.88%. Manulife Financial’s dividend payout ratio (DPR) is presently 59.42%.

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.