Fortis Group Advisors LLC Has $27,000 Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Fortis Group Advisors LLC increased its holdings in Manulife Financial Co. (NYSE:MFCFree Report) (TSE:MFC) by 100.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,210 shares of the financial services provider’s stock after purchasing an additional 605 shares during the quarter. Fortis Group Advisors LLC’s holdings in Manulife Financial were worth $27,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Anchor Investment Management LLC bought a new stake in Manulife Financial during the fourth quarter valued at $27,000. Creekmur Asset Management LLC acquired a new stake in shares of Manulife Financial during the 4th quarter worth approximately $30,000. Goodman Advisory Group LLC bought a new stake in shares of Manulife Financial in the 4th quarter valued at $32,000. Trust Co. of Vermont boosted its stake in Manulife Financial by 478.5% during the third quarter. Trust Co. of Vermont now owns 1,533 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 1,268 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its holdings in Manulife Financial by 72.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,568 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 661 shares during the period. 52.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group began coverage on shares of Manulife Financial in a research report on Thursday, February 22nd. They set a “buy” rating on the stock. National Bank Financial raised Manulife Financial from a “sector perform” rating to an “outperform” rating in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Manulife Financial has an average rating of “Moderate Buy” and a consensus target price of $33.33.

Check Out Our Latest Research Report on Manulife Financial

Manulife Financial Stock Performance

Manulife Financial stock traded down $0.08 during midday trading on Friday, hitting $25.10. 1,504,848 shares of the company’s stock were exchanged, compared to its average volume of 2,613,917. Manulife Financial Co. has a 52-week low of $17.07 and a 52-week high of $26.81. The stock has a 50-day moving average price of $24.91 and a two-hundred day moving average price of $23.41. The company has a market cap of $44.92 billion, a P/E ratio of 14.59, a PEG ratio of 0.92 and a beta of 1.09.

Manulife Financial (NYSE:MFCGet Free Report) (TSE:MFC) last issued its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.66 by $0.04. Manulife Financial had a return on equity of 16.27% and a net margin of 9.28%. The company had revenue of $9.49 billion during the quarter, compared to analyst estimates of $8.85 billion. As a group, sell-side analysts expect that Manulife Financial Co. will post 2.74 earnings per share for the current year.

Manulife Financial Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd will be given a $0.29 dividend. The ex-dividend date is Tuesday, May 21st. This represents a $1.16 annualized dividend and a yield of 4.62%. Manulife Financial’s dividend payout ratio (DPR) is presently 67.44%.

About Manulife Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Manulife Financial (NYSE:MFC)

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