Nwam LLC Invests $815,000 in Manulife Financial Co. (NYSE:MFC)

Nwam LLC bought a new stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 27,590 shares of the financial services provider’s stock, valued at approximately $815,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Citigroup Inc. grew its position in shares of Manulife Financial by 0.6% during the 3rd quarter. Citigroup Inc. now owns 792,694 shares of the financial services provider’s stock valued at $23,453,000 after acquiring an additional 4,730 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Manulife Financial by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,186,930 shares of the financial services provider’s stock valued at $153,455,000 after purchasing an additional 158,216 shares in the last quarter. Trustmark National Bank Trust Department grew its holdings in Manulife Financial by 2.8% during the third quarter. Trustmark National Bank Trust Department now owns 120,905 shares of the financial services provider’s stock valued at $3,573,000 after purchasing an additional 3,270 shares during the period. Intech Investment Management LLC increased its position in 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. Finally, Scheer Rowlett & Associates Investment Management Ltd. increased its position in Manulife Financial by 1.1% in the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,382,077 shares of the financial services provider’s stock worth $40,841,000 after buying an additional 14,469 shares in the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Trading Down 0.6 %

Shares of MFC opened at $32.47 on Friday. Manulife Financial Co. has a 12-month low of $19.13 and a 12-month high of $33.07. The company has a market capitalization of $56.88 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 1.19 and a beta of 1.08. The business’s 50 day moving average is $30.38 and its 200 day moving average is $27.70.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.70 by $0.30. The firm had revenue of $10.69 billion for the quarter, compared to the consensus estimate of $9.73 billion. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. During the same quarter in the previous year, the firm earned $0.69 earnings per share. Equities research analysts predict that Manulife Financial Co. will post 2.74 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.296 per share. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.65%. Manulife Financial’s dividend payout ratio (DPR) is presently 57.00%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Barclays began coverage on Manulife Financial in a research note on Thursday, September 5th. They set an “equal weight” rating for the company. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $37.50.

Manulife Financial Company 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.