Mawer Investment Management Ltd. trimmed its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 3.2% during the 4th quarter, HoldingsChannel reports. The fund owned 10,400,012 shares of the financial services provider’s stock after selling 338,371 shares during the period. Manulife Financial makes up approximately 1.8% of Mawer Investment Management Ltd.’s holdings, making the stock its 21st largest holding. Mawer Investment Management Ltd.’s holdings in Manulife Financial were worth $217,155,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of MFC. Citizens Financial Group Inc. RI boosted its position in Manulife Financial by 3,803.6% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 6,441 shares of the financial services provider’s stock valued at $131,000 after acquiring an additional 6,276 shares in the last quarter. Ferguson Wellman Capital Management Inc. bought a new stake in Manulife Financial during the 4th quarter valued at approximately $203,000. ProVise Management Group LLC bought a new stake in Manulife Financial during the 4th quarter valued at approximately $204,000. Lourd Capital LLC bought a new stake in Manulife Financial during the 4th quarter valued at approximately $209,000. Finally, Squar Milner Financial Services LLC bought a new stake in Manulife Financial during the 4th quarter valued at approximately $212,000. 47.06% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on MFC. Zacks Investment Research raised Manulife Financial from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Tuesday, February 6th. Scotiabank reaffirmed a “buy” rating and set a $31.00 price objective on shares of Manulife Financial in a research report on Wednesday, January 31st. Finally, National Bank Financial raised Manulife Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 24th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Manulife Financial currently has an average rating of “Buy” and a consensus price target of $26.67.
Shares of Manulife Financial Co. (MFC) opened at $19.85 on Tuesday. Manulife Financial Co. has a 12-month low of $16.62 and a 12-month high of $22.16. The company has a market capitalization of $39,351.32, a P/E ratio of 11.54, a PEG ratio of 1.01 and a beta of 1.28.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 19th. Investors of record on Wednesday, February 21st will be issued a $0.175 dividend. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.16. This represents a $0.70 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Tuesday, February 20th. Manulife Financial’s payout ratio is presently 86.49%.
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Manulife Financial Profile
Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.
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