Manulife Financial Co. (NYSE:MFC) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC trimmed its position in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 57.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,484 shares of the financial services provider's stock after selling 59,857 shares during the period. Cresset Asset Management LLC's holdings in Manulife Financial were worth $1,335,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Cetera Investment Advisers raised its holdings in shares of Manulife Financial by 1.1% in the fourth quarter. Cetera Investment Advisers now owns 148,560 shares of the financial services provider's stock worth $4,562,000 after buying an additional 1,627 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Manulife Financial in the fourth quarter worth $307,000. Baird Financial Group Inc. raised its holdings in shares of Manulife Financial by 17.4% in the fourth quarter. Baird Financial Group Inc. now owns 69,980 shares of the financial services provider's stock worth $2,149,000 after buying an additional 10,370 shares during the last quarter. Ancora Advisors LLC raised its holdings in shares of Manulife Financial by 34.7% in the fourth quarter. Ancora Advisors LLC now owns 1,943 shares of the financial services provider's stock worth $60,000 after buying an additional 500 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of Manulife Financial by 12.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 35,996 shares of the financial services provider's stock worth $1,105,000 after buying an additional 4,112 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MFC. Scotiabank reaffirmed an "outperform" rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada raised their target price on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $45.50.

Manulife Financial Trading Up 0.4%

MFC traded up $0.14 on Friday, reaching $32.01. The stock had a trading volume of 1,685,257 shares, compared to its average volume of 2,167,202. Manulife Financial Co. has a 12-month low of $23.30 and a 12-month high of $33.07. The business's 50-day moving average price is $30.08 and its two-hundred day moving average price is $30.53. The company has a market cap of $54.82 billion, a P/E ratio of 15.46, a price-to-earnings-growth ratio of 1.11 and a beta of 1.00.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.69 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.01). Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The firm had revenue of $1.49 billion during the quarter. During the same period last year, the firm earned $0.94 earnings per share. As a group, analysts predict that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Wednesday, May 21st will be given a $0.3194 dividend. This is a positive change from Manulife Financial's previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $1.28 annualized dividend and a dividend yield of 3.99%. Manulife Financial's dividend payout ratio (DPR) is 63.87%.

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.