Merit Financial Group LLC Buys Shares of 6,897 Manulife Financial Co. (NYSE:MFC)

Merit Financial Group LLC purchased a new position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,897 shares of the financial services provider’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. National Bank of Canada FI raised its stake in Manulife Financial by 13.5% during the third quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider’s stock valued at $829,374,000 after buying an additional 3,329,892 shares during the last quarter. Legal & General Group Plc boosted its stake in Manulife Financial by 0.5% in the 2nd quarter. Legal & General Group Plc now owns 14,783,400 shares of the financial services provider’s stock worth $393,592,000 after purchasing an additional 75,244 shares in the last quarter. Geode Capital Management LLC grew its position in Manulife Financial by 8.1% during the 3rd quarter. Geode Capital Management LLC now owns 8,273,260 shares of the financial services provider’s stock valued at $247,473,000 after purchasing an additional 616,517 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Manulife Financial by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,186,930 shares of the financial services provider’s stock valued at $153,455,000 after purchasing an additional 158,216 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Manulife Financial by 1.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,035,663 shares of the financial services provider’s stock valued at $60,202,000 after purchasing an additional 36,838 shares in the last quarter. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Performance

Shares of NYSE MFC opened at $30.53 on Monday. The firm’s 50 day moving average price is $31.12 and its 200-day moving average price is $29.24. Manulife Financial Co. has a 52-week low of $21.54 and a 52-week high of $33.07. The company has a market cap of $52.77 billion, a PE ratio of 14.75, a P/E/G ratio of 1.05 and a beta of 1.09.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data 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. The business had revenue of $10.69 billion for 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 period in the prior year, the firm posted $0.69 EPS. On average, analysts forecast that Manulife Financial Co. will post 2.69 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

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