Dixon Mitchell Investment Counsel Inc. Buys 9,759 Shares of Manulife Financial Co. (NYSE:MFC)

Dixon Mitchell Investment Counsel Inc. increased its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 559,985 shares of the financial services provider’s stock after acquiring an additional 9,759 shares during the quarter. Dixon Mitchell Investment Counsel Inc.’s holdings in Manulife Financial were worth $17,194,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. West Financial Advisors LLC purchased a new position in Manulife Financial in the third quarter worth about $26,000. Brooklyn Investment Group bought a new stake in shares of Manulife Financial during the third quarter valued at approximately $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 bought a new position in Manulife Financial in the 3rd quarter valued at approximately $31,000. Finally, Tsfg LLC boosted its stake in Manulife Financial by 103.8% during the 3rd quarter. Tsfg LLC now owns 1,404 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 715 shares during the last quarter. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Performance

NYSE MFC opened at $30.70 on Thursday. The stock has a 50-day moving average of $31.38 and a 200 day moving average of $29.04. Manulife Financial Co. has a one year low of $20.78 and a one year high of $33.07. The company has a market capitalization of $53.07 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 1.01 and a beta of 1.09.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced 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. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The company had revenue of $10.69 billion during the quarter, compared to the consensus estimate of $9.73 billion. During the same period in the previous year, the company posted $0.69 EPS. On average, equities analysts predict that Manulife Financial Co. will post 2.71 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th were paid a $0.296 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.18 annualized dividend and a yield of 3.86%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s payout ratio is presently 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.