Orion Portfolio Solutions LLC Has $1.36 Million Stake in Manulife Financial Co. (NYSE:MFC)

Orion Portfolio Solutions LLC boosted its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 26.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,975 shares of the financial services provider’s stock after buying an additional 9,582 shares during the period. Orion Portfolio Solutions LLC’s holdings in Manulife Financial were worth $1,359,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Grove Bank & Trust bought a new stake in Manulife Financial in the second quarter valued at $25,000. West Financial Advisors LLC bought a new stake in Manulife Financial in the third quarter valued at $26,000. Brooklyn Investment Group bought a new stake in Manulife Financial in the third quarter valued at $26,000. Addison Advisors LLC increased its stake in Manulife Financial by 77.2% in the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 467 shares in the last quarter. Finally, HHM Wealth Advisors LLC increased its stake in Manulife Financial by 119.0% in the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barclays assumed coverage on shares of Manulife Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating for the company. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $37.50.

Manulife Financial Price Performance

NYSE:MFC opened at $30.93 on Friday. The company has a market cap of $54.19 billion, a PE ratio of 14.94, a PEG ratio of 1.16 and a beta of 1.09. Manulife Financial Co. has a one year low of $20.78 and a one year high of $33.07. The firm has a 50-day moving average of $31.19 and a 200-day moving average of $28.30.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data 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 company had revenue of $10.69 billion during 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 period last year, the firm earned $0.69 EPS. On average, equities research analysts expect that Manulife Financial Co. will post 2.72 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be issued a $0.296 dividend. The ex-dividend date of this dividend 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 3.83%. Manulife Financial’s dividend payout ratio (DPR) is 57.00%.

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.