Benjamin Edwards Inc. Has $4.29 Million Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Benjamin Edwards Inc. raised its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 260.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 145,124 shares of the financial services provider’s stock after purchasing an additional 104,894 shares during the quarter. Benjamin Edwards Inc.’s holdings in Manulife Financial were worth $4,289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. grew its position in Manulife Financial by 34.3% in the second quarter. 1832 Asset Management L.P. now owns 19,723,609 shares of the financial services provider’s stock valued at $525,042,000 after acquiring an additional 5,036,716 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Manulife Financial by 288.4% in the 2nd quarter. Acadian Asset Management LLC now owns 3,943,509 shares of the financial services provider’s stock worth $104,966,000 after purchasing an additional 2,928,316 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of Manulife Financial during the 2nd quarter worth about $35,806,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Manulife Financial by 1,210.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,161,059 shares of the financial services provider’s stock valued at $30,922,000 after purchasing an additional 1,072,474 shares during the last quarter. Finally, Bridgewater Associates LP boosted its position in Manulife Financial by 169.6% in the third quarter. Bridgewater Associates LP now owns 1,404,481 shares of the financial services provider’s stock valued at $41,554,000 after buying an additional 883,624 shares in the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MFC has been the subject of a number of research analyst reports. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Barclays started coverage on Manulife Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating for the company. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $37.50.

Manulife Financial Stock Down 0.8 %

Shares of MFC stock opened at $32.07 on Wednesday. The firm has a market cap of $56.18 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 1.19 and a beta of 1.09. Manulife Financial Co. has a 12 month low of $19.53 and a 12 month high of $33.07. The stock has a 50-day moving average price of $30.85 and a 200 day moving average price of $28.01.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.70 by $0.30. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The company had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $9.73 billion. During the same quarter in the previous year, the company earned $0.69 EPS. Sell-side analysts predict that Manulife Financial Co. will post 2.72 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be given a $0.296 dividend. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Wednesday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is currently 57.00%.

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.