192,187 Shares in Manulife Financial Co. (NYSE:MFC) Purchased by Guardian Partners Inc.

Guardian Partners Inc. acquired a new position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 192,187 shares of the financial services provider’s stock, valued at approximately $5,893,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MFC. Avior Wealth Management LLC lifted its stake in shares of Manulife Financial by 279.6% in the third quarter. Avior Wealth Management LLC now owns 8,582 shares of the financial services provider’s stock worth $254,000 after buying an additional 6,321 shares in the last quarter. Commerce Bank lifted its stake in shares of Manulife Financial by 24.3% in the third quarter. Commerce Bank now owns 13,696 shares of the financial services provider’s stock worth $405,000 after buying an additional 2,676 shares in the last quarter. Intech Investment Management LLC lifted its stake in shares of Manulife Financial by 37.1% in the third quarter. Intech Investment Management LLC now owns 128,710 shares of the financial services provider’s stock worth $3,808,000 after buying an additional 34,838 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Manulife Financial by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,186,930 shares of the financial services provider’s stock worth $153,455,000 after buying an additional 158,216 shares in the last quarter. Finally, Citigroup Inc. lifted its stake in shares of Manulife Financial by 0.6% in the third quarter. Citigroup Inc. now owns 792,694 shares of the financial services provider’s stock worth $23,453,000 after buying an additional 4,730 shares in the last quarter. Institutional investors own 52.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $45.50.

Manulife Financial Stock Performance

MFC opened at $30.45 on Friday. Manulife Financial Co. has a fifty-two week low of $22.61 and a fifty-two week high of $33.07. The stock has a market capitalization of $52.45 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 1.11 and a beta of 1.05. The company has a fifty day moving average of $30.05 and a 200 day moving average of $30.29.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The firm had revenue of $9.31 billion during the quarter. On average, equities research analysts forecast that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a dividend of $0.3094 per share. The ex-dividend date was Wednesday, March 5th. This is a boost 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 4.06%. Manulife Financial’s payout ratio is currently 58.45%.

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.