EP Wealth Advisors LLC Buys 1,316 Shares of Manulife Financial Co. (NYSE:MFC)

EP Wealth Advisors LLC raised its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 12.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 11,980 shares of the financial services provider’s stock after acquiring an additional 1,316 shares during the quarter. EP Wealth Advisors LLC’s holdings in Manulife Financial were worth $368,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Crews Bank & Trust purchased a new position in Manulife Financial during the fourth quarter valued at $26,000. Lee Danner & Bass Inc. purchased a new position in shares of Manulife Financial during the fourth quarter valued at approximately $31,000. Stonebridge Financial Group LLC purchased a new position in shares of Manulife Financial during the fourth quarter valued at approximately $34,000. Golden State Wealth Management LLC purchased a new stake in shares of Manulife Financial in the fourth quarter valued at approximately $35,000. Finally, CKW Financial Group purchased a new stake in shares of Manulife Financial in the fourth quarter valued at approximately $37,000. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Manulife Financial Trading Up 2.8%

Shares of Manulife Financial stock opened at $31.61 on Tuesday. The firm has a market capitalization of $54.14 billion, a PE ratio of 15.27, a P/E/G ratio of 1.11 and a beta of 1.00. Manulife Financial Co. has a twelve month low of $23.30 and a twelve month high of $33.07. The firm’s 50-day moving average price is $29.85 and its 200 day moving average price is $30.48.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). The firm had revenue of $1.49 billion for the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. During the same period in the prior year, the company earned $0.94 EPS. On average, sell-side analysts predict that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Wednesday, May 21st will be given a $0.3194 dividend. This represents a $1.28 annualized dividend and a yield of 4.04%. The ex-dividend date is Wednesday, May 21st. This is a boost from Manulife Financial’s previous quarterly dividend of $0.31. Manulife Financial’s dividend payout ratio (DPR) is currently 63.87%.

Analysts Set New Price Targets

MFC has been the subject of a number of recent research reports. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada upped their price target 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. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $45.50.

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.