PDS Planning Inc Invests $204,000 in Manulife Financial Co. (NYSE:MFC)

PDS Planning Inc acquired a new position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 9,223 shares of the financial services provider’s stock, valued at approximately $204,000.

A number of other institutional investors have also made changes to their positions in the stock. Foster & Motley Inc. grew its stake in shares of Manulife Financial by 22.5% during the fourth quarter. Foster & Motley Inc. now owns 310,405 shares of the financial services provider’s stock worth $6,860,000 after purchasing an additional 56,936 shares during the period. CWM LLC grew its stake in shares of Manulife Financial by 24.8% during the fourth quarter. CWM LLC now owns 15,690 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 3,120 shares during the period. Goodman Advisory Group LLC acquired a new stake in shares of Manulife Financial during the fourth quarter worth $32,000. Wealth Alliance grew its stake in shares of Manulife Financial by 3.1% during the fourth quarter. Wealth Alliance now owns 31,677 shares of the financial services provider’s stock worth $700,000 after purchasing an additional 938 shares during the period. Finally, DGS Capital Management LLC grew its stake in shares of Manulife Financial by 5.3% during the fourth quarter. DGS Capital Management LLC now owns 45,093 shares of the financial services provider’s stock worth $997,000 after purchasing an additional 2,260 shares during the period. 52.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MFC has been the subject of a number of analyst reports. BMO Capital Markets raised Manulife Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $31.00 to $35.00 in a research note on Thursday, February 15th. Jefferies Financial Group initiated coverage on Manulife Financial in a research note on Thursday, February 22nd. They issued a “buy” rating for the company. Finally, Desjardins raised Manulife Financial from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Manulife Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

Manulife Financial Trading Up 0.6 %

NYSE:MFC opened at $23.59 on Wednesday. Manulife Financial Co. has a 1 year low of $17.07 and a 1 year high of $25.14. The stock has a market cap of $42.49 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 0.87 and a beta of 1.08. The stock has a 50-day moving average price of $24.03 and a two-hundred day moving average price of $21.55.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. The company had revenue of $10.96 billion for the quarter, compared to analyst estimates of $7.57 billion. Manulife Financial had a return on equity of 15.98% and a net margin of 10.42%. Sell-side analysts forecast that Manulife Financial Co. will post 2.71 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, February 28th were issued a $0.298 dividend. This represents a $1.19 dividend on an annualized basis and a dividend yield of 5.05%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Tuesday, February 27th. Manulife Financial’s payout ratio is 61.66%.

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.