The Manufacturers Life Insurance Company Lowers Stock Holdings in Manulife Financial Co. (NYSE:MFC)

The Manufacturers Life Insurance Company trimmed its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,947,035 shares of the financial services provider’s stock after selling 88,628 shares during the period. The Manufacturers Life Insurance Company’s holdings in Manulife Financial were worth $59,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in MFC. Crews Bank & Trust purchased a new stake in Manulife Financial in the 4th quarter valued at about $26,000. Lee Danner & Bass Inc. purchased a new stake in shares of Manulife Financial in the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Manulife Financial in the 4th quarter worth approximately $34,000. Golden State Wealth Management LLC purchased a new stake in shares of Manulife Financial in the 4th quarter worth approximately $35,000. Finally, CKW Financial Group purchased a new stake in shares of Manulife Financial in the 4th quarter worth approximately $37,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Stock Up 0.7 %

NYSE MFC opened at $30.70 on Wednesday. The firm has a market cap of $52.75 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 1.11 and a beta of 0.89. The company has a 50 day moving average price of $29.71 and a 200 day moving average price of $30.42. Manulife Financial Co. has a 52 week low of $23.27 and a 52 week high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.67 by $0.07. The firm had revenue of $9.31 billion during the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. On average, equities research analysts anticipate that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

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

Analyst Upgrades and Downgrades

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

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.