Baron Wealth Management LLC Grows Position in Manulife Financial Co. (NYSE:MFC)

Baron Wealth Management LLC raised its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 2.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,400 shares of the financial services provider’s stock after acquiring an additional 330 shares during the quarter. Baron Wealth Management LLC’s holdings in Manulife Financial were worth $426,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MFC. Grove Bank & Trust bought a new stake in Manulife Financial during the second quarter worth approximately $25,000. West Financial Advisors LLC purchased a new position in shares of Manulife Financial during the third quarter valued at approximately $26,000. Addison Advisors LLC boosted its holdings in shares of Manulife Financial by 77.2% in the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 467 shares during the period. HHM Wealth Advisors LLC boosted its holdings in shares of Manulife Financial by 119.0% in the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 600 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Manulife Financial in the third quarter valued at approximately $30,000. 52.56% of the stock is owned by institutional investors.

Manulife Financial Price Performance

Shares of MFC stock opened at $32.34 on Tuesday. The firm has a market capitalization of $56.66 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 1.19 and a beta of 1.08. The business has a fifty day moving average of $30.01 and a 200 day moving average of $27.49. Manulife Financial Co. has a 1 year low of $18.91 and a 1 year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.30. The company had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same quarter last year, the business posted $0.69 EPS. As a group, equities research analysts expect that Manulife Financial Co. will post 2.74 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.296 per share. The ex-dividend date is Wednesday, November 20th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.66%. Manulife Financial’s dividend payout ratio (DPR) is 56.04%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Barclays assumed coverage on Manulife Financial in a report on Thursday, September 5th. They set an “equal weight” rating for the company. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $37.50.

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.