Integrated Advisors Network LLC Buys 2,750 Shares of Manulife Financial Co. (NYSE:MFC)

Integrated Advisors Network LLC raised its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 17.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,746 shares of the financial services provider’s stock after purchasing an additional 2,750 shares during the period. Integrated Advisors Network LLC’s holdings in Manulife Financial were worth $414,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Anchor Investment Management LLC bought a new stake in Manulife Financial in the fourth quarter valued at $27,000. Trust Co. of Vermont increased its position in shares of Manulife Financial by 478.5% during the third quarter. Trust Co. of Vermont now owns 1,533 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 1,268 shares in the last quarter. Goodman Advisory Group LLC bought a new stake in shares of Manulife Financial during the fourth quarter worth about $32,000. JFS Wealth Advisors LLC increased its position in shares of Manulife Financial by 72.9% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,568 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 661 shares in the last quarter. Finally, Northwest Financial Advisors bought a new stake in shares of Manulife Financial during the fourth quarter worth about $42,000. 52.56% of the stock is owned by institutional investors.

Manulife Financial Stock Performance

Manulife Financial stock opened at $25.55 on Wednesday. Manulife Financial Co. has a fifty-two week low of $17.07 and a fifty-two week high of $26.81. The stock has a market cap of $45.73 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 0.92 and a beta of 1.09. The firm’s 50-day simple moving average is $24.95 and its 200 day simple moving average is $23.50.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.04. The business had revenue of $9.49 billion for the quarter, compared to analysts’ expectations of $8.85 billion. Manulife Financial had a net margin of 9.28% and a return on equity of 16.27%. As a group, analysts predict that Manulife Financial Co. will post 2.74 EPS for the current fiscal year.

Manulife Financial Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date of this dividend is Tuesday, May 21st. Manulife Financial’s payout ratio is 67.44%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Manulife Financial in a research report on Thursday, February 22nd. They set a “buy” rating for the company. National Bank Financial raised shares of Manulife Financial from a “sector perform” rating to an “outperform” rating in a research report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Manulife Financial presently has an average rating of “Moderate Buy” and an average target price of $33.33.

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.