Manulife Financial Co. (NYSE:MFC) Shares Purchased by Lewis Asset Management LLC

Lewis Asset Management LLC boosted its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 21.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,791 shares of the financial services provider’s stock after purchasing an additional 1,713 shares during the quarter. Lewis Asset Management LLC’s holdings in Manulife Financial were worth $301,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MFC. West Financial Advisors LLC acquired a new stake in shares of Manulife Financial in the third quarter valued at about $26,000. Brooklyn Investment Group acquired a new stake in Manulife Financial in the 3rd quarter valued at about $26,000. Capital Performance Advisors LLP purchased a new position in Manulife Financial in the 3rd quarter worth approximately $30,000. Fortitude Family Office LLC acquired a new position in shares of Manulife Financial during the 3rd quarter worth approximately $31,000. Finally, CKW Financial Group purchased a new stake in shares of Manulife Financial in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Performance

Shares of Manulife Financial stock opened at $30.38 on Thursday. The business’s 50 day moving average price is $31.03 and its 200 day moving average price is $29.30. The company has a market cap of $52.51 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.05 and a beta of 1.09. Manulife Financial Co. has a one year low of $21.54 and a one year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.30. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The firm had revenue of $10.69 billion for the quarter, compared to analysts’ expectations of $9.73 billion. During the same quarter in the previous year, the company posted $0.69 EPS. On average, analysts predict that Manulife Financial Co. will post 2.69 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th were paid a $0.296 dividend. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.18 annualized dividend and a dividend yield of 3.90%. Manulife Financial’s dividend payout ratio is 59.42%.

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.