Principal Securities Inc. Raises Stake in Manulife Financial Co. (NYSE:MFC)

Principal Securities Inc. boosted its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 6.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,206 shares of the financial services provider’s stock after acquiring an additional 985 shares during the period. Principal Securities Inc.’s holdings in Manulife Financial were worth $498,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Baron Wealth Management LLC lifted its position in Manulife Financial by 2.3% during the 3rd quarter. Baron Wealth Management LLC now owns 14,400 shares of the financial services provider’s stock valued at $426,000 after acquiring an additional 330 shares during the period. Little House Capital LLC lifted its position in Manulife Financial by 1.0% during the 4th quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider’s stock valued at $1,037,000 after acquiring an additional 331 shares during the period. Robertson Stephens Wealth Management LLC lifted its position in Manulife Financial by 1.5% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 23,068 shares of the financial services provider’s stock valued at $708,000 after acquiring an additional 339 shares during the period. Americana Partners LLC lifted its position in Manulife Financial by 0.5% during the 3rd quarter. Americana Partners LLC now owns 69,967 shares of the financial services provider’s stock valued at $2,068,000 after acquiring an additional 364 shares during the period. Finally, Kingsview Wealth Management LLC lifted its position in Manulife Financial by 4.6% during the 4th quarter. Kingsview Wealth Management LLC now owns 11,790 shares of the financial services provider’s stock valued at $362,000 after acquiring an additional 519 shares during the period. 52.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada raised their price objective on shares of Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $45.50.

Manulife Financial Stock Performance

NYSE:MFC opened at $30.36 on Friday. The firm has a market cap of $52.32 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.04 and a beta of 1.09. Manulife Financial Co. has a fifty-two week low of $22.61 and a fifty-two week high of $33.07. The firm has a 50-day simple moving average of $30.32 and a two-hundred day simple moving average of $29.75.

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 for the quarter, beating analysts’ consensus estimates of $0.67 by $0.07. The business had revenue of $9.31 billion during the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 16.15%. On average, equities research analysts predict that Manulife Financial Co. will post 2.88 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.3094 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.08%. Manulife Financial’s payout ratio is currently 59.42%.

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.