QRG Capital Management Inc. Invests $211,000 in Manulife Financial Co. (NYSE:MFC)

QRG Capital Management Inc. acquired a new position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,864 shares of the financial services provider’s stock, valued at approximately $211,000.

Other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in shares of Manulife Financial in the third quarter worth about $26,000. Crews Bank & Trust bought a new position in shares of Manulife Financial in the fourth quarter worth about $26,000. Capital Performance Advisors LLP bought a new position in shares of Manulife Financial in the third quarter worth about $30,000. Stonebridge Financial Group LLC bought a new stake in Manulife Financial during the 4th quarter valued at approximately $34,000. Finally, Golden State Wealth Management LLC bought a new stake in Manulife Financial during the 4th quarter valued at approximately $35,000. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Price Performance

NYSE:MFC opened at $29.23 on Friday. Manulife Financial Co. has a 1 year low of $22.61 and a 1 year high of $33.07. The stock’s 50 day simple moving average is $30.25 and its two-hundred day simple moving average is $30.09. The company has a market cap of $50.37 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 1.11 and a beta of 1.05.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The business had revenue of $9.31 billion for the quarter. As a group, analysts anticipate that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.3094 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a yield of 4.23%. Manulife Financial’s payout ratio is presently 58.45%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Royal Bank of Canada lifted their target price on Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $45.50.

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.