Park Avenue Securities LLC Increases Stake in Manulife Financial Co. (NYSE:MFC)

Park Avenue Securities LLC increased its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 34.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,845 shares of the financial services provider’s stock after purchasing an additional 5,824 shares during the period. Park Avenue Securities LLC’s holdings in Manulife Financial were worth $702,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Baron Wealth Management LLC lifted 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 worth $426,000 after buying an additional 330 shares during the period. Americana Partners LLC lifted 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 worth $2,068,000 after acquiring an additional 364 shares during the period. Arkadios Wealth Advisors grew its stake in Manulife Financial by 1.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 41,841 shares of the financial services provider’s stock valued at $1,236,000 after purchasing an additional 547 shares during the last quarter. Kathmere Capital Management LLC grew its stake in Manulife Financial by 4.5% during the 4th quarter. Kathmere Capital Management LLC now owns 13,340 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 569 shares during the last quarter. Finally, Daymark Wealth Partners LLC increased its holdings in shares of Manulife Financial by 1.7% in the third quarter. Daymark Wealth Partners LLC now owns 34,886 shares of the financial services provider’s stock valued at $1,031,000 after purchasing an additional 596 shares during the period. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Down 1.3 %

Manulife Financial stock opened at $30.43 on Thursday. The stock has a 50-day moving average price of $31.25 and a 200 day moving average price of $29.18. The company has a market capitalization of $52.61 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 1.05 and a beta of 1.09. Manulife Financial Co. has a 52 week low of $21.38 and a 52 week high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.70 by $0.30. The business had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $9.73 billion. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. During the same period in the previous year, the business posted $0.69 EPS. Research analysts anticipate that Manulife Financial Co. will post 2.69 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th were issued a $0.296 dividend. This represents a $1.18 annualized dividend and a yield of 3.89%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Wednesday, November 20th. Manulife Financial’s dividend payout ratio is presently 59.42%.

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.