Entropy Technologies LP Purchases Shares of 45,764 Manulife Financial Co. (NYSE:MFC)

Entropy Technologies LP purchased a new stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 45,764 shares of the financial services provider’s stock, valued at approximately $1,352,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Grove Bank & Trust acquired a new stake in shares of Manulife Financial in the second quarter worth $25,000. West Financial Advisors LLC acquired a new stake in shares of Manulife Financial in the third quarter worth $26,000. Addison Advisors LLC grew its stake 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 acquiring an additional 467 shares during the last quarter. HHM Wealth Advisors LLC grew its stake in shares of 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 worth $29,000 after acquiring an additional 600 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Manulife Financial in the third quarter worth $30,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

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

Manulife Financial Price Performance

Shares of MFC stock opened at $32.44 on Thursday. The stock has a market cap of $57.06 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 1.19 and a beta of 1.08. Manulife Financial Co. has a one year low of $18.78 and a one year high of $32.94. The stock has a fifty day moving average price of $29.59 and a 200 day moving average price of $27.24.

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

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $0.296 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. 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%.

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.