Manulife Financial Co. (NYSE:MFC) Shares Sold by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC reduced its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 35.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,891 shares of the financial services provider’s stock after selling 3,824 shares during the period. OneDigital Investment Advisors LLC’s holdings in Manulife Financial were worth $212,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MFC. Franklin Resources Inc. raised its holdings in Manulife Financial by 16.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider’s stock worth $61,426,000 after purchasing an additional 279,418 shares during the period. Dorsey & Whitney Trust CO LLC purchased a new position in shares of Manulife Financial during the 4th quarter valued at approximately $330,000. AEGON ASSET MANAGEMENT UK Plc grew its stake in Manulife Financial by 14.9% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 88,631 shares of the financial services provider’s stock valued at $2,719,000 after acquiring an additional 11,509 shares during the period. Geode Capital Management LLC increased its holdings in Manulife Financial by 28.7% in the 4th quarter. Geode Capital Management LLC now owns 10,650,598 shares of the financial services provider’s stock worth $333,291,000 after acquiring an additional 2,377,338 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Manulife Financial by 60.4% during the 4th quarter. Prudential Financial Inc. now owns 36,200 shares of the financial services provider’s stock worth $1,112,000 after purchasing an additional 13,638 shares during the last quarter. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Up 0.7 %

Shares of MFC opened at $30.70 on Wednesday. Manulife Financial Co. has a fifty-two week low of $23.27 and a fifty-two week high of $33.07. The company has a market cap of $52.75 billion, a P/E ratio of 14.83, a PEG ratio of 1.11 and a beta of 0.89. The firm’s 50 day moving average price is $29.71 and its 200 day moving average price is $30.42.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.07. The firm had revenue of $9.31 billion during the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. Research analysts forecast that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a $0.3094 dividend. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, March 5th. This represents a $1.24 annualized dividend and a yield of 4.03%. Manulife Financial’s dividend payout ratio (DPR) is 58.45%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada raised their price target on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $45.50.

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.