Ashton Thomas Private Wealth LLC Buys 1,447 Shares of Manulife Financial Co. (NYSE:MFC)

by · The Markets Daily

Ashton Thomas Private Wealth LLC grew its stake in shares of Manulife Financial Co. (NYSE:MFC – Free Report) (TSE:MFC) by 2.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 58,152 shares of the financial services provider’s stock after acquiring an additional 1,447 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Manulife Financial were worth $1,718,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. West Financial Advisors LLC bought a new stake in Manulife Financial during the 3rd quarter worth approximately $26,000. Grove Bank & Trust purchased a new position in shares of Manulife Financial during the 2nd quarter valued at $25,000. Capital Performance Advisors LLP bought a new position in shares of Manulife Financial in the third quarter worth $30,000. Fortitude Family Office LLC purchased a new stake in shares of Manulife Financial in the third quarter worth $31,000. Finally, Addison Advisors LLC raised its position in shares of Manulife Financial by 77.2% in the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock worth $29,000 after buying an additional 467 shares in the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Trading Up 0.4 %

Shares of Manulife Financial stock opened at $32.54 on Wednesday. The firm has a market capitalization of $57.24 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.18 and a beta of 1.08. Manulife Financial Co. has a 12 month low of $18.56 and a 12 month high of $32.94. The business’s 50-day moving average price is $29.49 and its 200-day moving average price is $27.17.

Manulife Financial (NYSE:MFC – Get Free Report) (TSE:MFC) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.30. The business had revenue of $10.69 billion for the quarter, compared to analysts’ expectations of $9.73 billion. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. During the same period last year, the business earned $0.69 earnings per share. As a group, analysts predict that Manulife Financial Co. will post 2.74 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be paid a $0.296 dividend. The ex-dividend date is Wednesday, November 20th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a yield of 3.64%. Manulife Financial’s payout ratio is currently 56.04%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MFC shares. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Barclays initiated coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating on the stock. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $37.50.

Check Out Our Latest Stock Report on MFC

Manulife Financial Profile

(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.

Further Reading

Want to see what other hedge funds are holding MFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manulife Financial Co. (NYSE:MFC – Free Report) (TSE:MFC).