Measured Wealth Private Client Group LLC Raises Stock Position in Manulife Financial Corp (NYSE:MFC)

Measured Wealth Private Client Group LLC raised its stake in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 4.4% during the first quarter, Holdings Channel reports. The firm owned 50,038 shares of the financial services provider’s stock after buying an additional 2,095 shares during the quarter. Manulife Financial makes up approximately 0.5% of Measured Wealth Private Client Group LLC’s portfolio, making the stock its 28th biggest position. Measured Wealth Private Client Group LLC’s holdings in Manulife Financial were worth $1,559,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Townsquare Capital LLC boosted its holdings in shares of Manulife Financial by 5.5% during the 1st quarter. Townsquare Capital LLC now owns 40,798 shares of the financial services provider’s stock valued at $1,271,000 after buying an additional 2,124 shares in the last quarter. Forsta AP Fonden boosted its holdings in shares of Manulife Financial by 10.6% during the 1st quarter. Forsta AP Fonden now owns 594,500 shares of the financial services provider’s stock valued at $18,522,000 after buying an additional 57,100 shares in the last quarter. Savvy Advisors Inc. boosted its holdings in shares of Manulife Financial by 34.4% during the 1st quarter. Savvy Advisors Inc. now owns 17,165 shares of the financial services provider’s stock valued at $535,000 after buying an additional 4,392 shares in the last quarter. Wambolt & Associates LLC boosted its holdings in shares of Manulife Financial by 2.2% during the 1st quarter. Wambolt & Associates LLC now owns 93,484 shares of the financial services provider’s stock valued at $2,969,000 after buying an additional 2,026 shares in the last quarter. Finally, Maryland State Retirement & Pension System boosted its holdings in shares of Manulife Financial by 29.0% during the 1st quarter. Maryland State Retirement & Pension System now owns 280,524 shares of the financial services provider’s stock valued at $8,739,000 after buying an additional 63,026 shares in the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Price Performance

Shares of Manulife Financial stock opened at $30.11 on Friday. The stock has a market cap of $51.14 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.02 and a beta of 1.01. The firm’s 50-day moving average is $31.20 and its 200 day moving average is $30.55. Manulife Financial Corp has a 1 year low of $24.77 and a 1 year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.02). The firm had revenue of $11.30 billion during the quarter. Manulife Financial had a return on equity of 15.77% and a net margin of 10.46%. During the same quarter last year, the firm posted $0.91 EPS. On average, equities analysts expect that Manulife Financial Corp will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, August 20th will be paid a dividend of $0.3199 per share. The ex-dividend date is Wednesday, August 20th. This represents a $1.28 annualized dividend and a yield of 4.3%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.32. Manulife Financial’s dividend payout ratio (DPR) is currently 67.02%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MFC shares. Morgan Stanley set a $46.00 target price on shares of Manulife Financial in a report on Monday, May 19th. Royal Bank Of Canada dropped their price target on shares of Manulife Financial from $51.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday.

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.