Manulife Financial Co. (NYSE:MFC) Shares Bought by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. increased its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 14.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,343 shares of the financial services provider’s stock after purchasing an additional 2,451 shares during the period. Avantax Advisory Services Inc.’s holdings in Manulife Financial were worth $594,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Crews Bank & Trust purchased a new position in Manulife Financial in the fourth quarter valued at approximately $26,000. Brooklyn Investment Group acquired a new stake in shares of Manulife Financial in the third quarter valued at approximately $26,000. Stonebridge Financial Group LLC purchased a new position in shares of Manulife Financial during the fourth quarter worth approximately $34,000. Golden State Wealth Management LLC acquired a new stake in Manulife Financial during the 4th quarter worth $35,000. Finally, CKW Financial Group purchased a new position in Manulife Financial during the 4th quarter worth $37,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Down 0.3 %

NYSE:MFC opened at $30.45 on Friday. The firm’s fifty day simple moving average is $30.05 and its 200-day simple moving average is $30.29. Manulife Financial Co. has a fifty-two week low of $22.61 and a fifty-two week high of $33.07. The stock has a market cap of $52.45 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate 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. Equities analysts anticipate that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.3094 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a yield of 4.06%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s dividend payout ratio is presently 58.45%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MFC. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada lifted their price objective on Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 21st. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $45.50.

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.