9,600 Shares in Manulife Financial Co. (NYSE:MFC) Acquired by Peregrine Asset Advisers Inc.

Peregrine Asset Advisers Inc. purchased a new stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 9,600 shares of the financial services provider’s stock, valued at approximately $212,000.

Other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Manulife Financial in the third quarter valued at about $592,000. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Manulife Financial by 10.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 73,155 shares of the financial services provider’s stock worth $1,337,000 after buying an additional 7,124 shares during the last quarter. Raymond James & Associates grew its stake in shares of Manulife Financial by 46.6% in the third quarter. Raymond James & Associates now owns 403,284 shares of the financial services provider’s stock worth $7,372,000 after acquiring an additional 128,228 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Manulife Financial by 8.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 95,114 shares of the financial services provider’s stock worth $1,739,000 after acquiring an additional 7,740 shares during the period. Finally, Stratos Wealth Partners LTD. acquired a new position in Manulife Financial during the 3rd quarter valued at $250,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Price Performance

Shares of MFC traded up $0.43 during trading hours on Monday, hitting $24.44. The stock had a trading volume of 4,358,793 shares, compared to its average volume of 3,224,294. Manulife Financial Co. has a 52 week low of $17.07 and a 52 week high of $25.14. The stock has a market capitalization of $43.89 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 0.89 and a beta of 1.08. The company’s fifty day moving average is $23.93 and its two-hundred day moving average is $21.89.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.05. The firm had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $7.57 billion. Manulife Financial had a net margin of 10.42% and a return on equity of 15.98%. Equities analysts predict that Manulife Financial Co. will post 2.7 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, February 28th were issued a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a yield of 4.88%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Tuesday, February 27th. Manulife Financial’s dividend payout ratio (DPR) is currently 61.66%.

Analysts Set New Price Targets

Several research firms have recently issued reports on MFC. Jefferies Financial Group began coverage on shares of Manulife Financial in a research report on Thursday, February 22nd. They set a “buy” rating for the company. Desjardins upgraded Manulife Financial from a “hold” rating to a “buy” rating in a research report on Thursday, February 15th. Finally, 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 report on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $33.33.

About Manulife Financial

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.