Barry Investment Advisors LLC Has $4.17 Million Position in Manulife Financial Corp (NYSE:MFC)

Barry Investment Advisors LLC cut its position in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 7.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 133,734 shares of the financial services provider's stock after selling 10,265 shares during the quarter. Manulife Financial accounts for about 1.1% of Barry Investment Advisors LLC's portfolio, making the stock its 25th largest holding. Barry Investment Advisors LLC's holdings in Manulife Financial were worth $4,166,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in MFC. FIL Ltd increased its position in Manulife Financial by 21.7% during the 4th quarter. FIL Ltd now owns 39,610,614 shares of the financial services provider's stock worth $1,216,880,000 after purchasing an additional 7,053,066 shares in the last quarter. TD Asset Management Inc. increased its position in Manulife Financial by 0.7% during the 4th quarter. TD Asset Management Inc. now owns 34,803,859 shares of the financial services provider's stock worth $1,068,654,000 after purchasing an additional 228,863 shares in the last quarter. Mackenzie Financial Corp increased its position in Manulife Financial by 0.9% during the 4th quarter. Mackenzie Financial Corp now owns 24,614,416 shares of the financial services provider's stock worth $755,367,000 after purchasing an additional 230,105 shares in the last quarter. Toronto Dominion Bank increased its position in Manulife Financial by 4.1% during the 4th quarter. Toronto Dominion Bank now owns 22,812,909 shares of the financial services provider's stock worth $699,948,000 after purchasing an additional 902,466 shares in the last quarter. Finally, Norges Bank acquired a new position in Manulife Financial during the 4th quarter worth approximately $654,751,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Morgan Stanley set a $46.00 target price on shares of Manulife Financial in a report on Monday, May 19th.

Manulife Financial Price Performance

MFC opened at $30.72 on Friday. The company's 50 day moving average price is $31.49 and its two-hundred day moving average price is $30.51. Manulife Financial Corp has a fifty-two week low of $23.30 and a fifty-two week high of $33.07. The firm has a market capitalization of $52.47 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 1.04 and a beta of 0.99.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.69 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.01). Manulife Financial had a net margin of 9.58% and a return on equity of 15.84%. The firm had revenue of $1.49 billion during the quarter. During the same quarter in the prior year, the company posted $0.94 earnings per share. As a group, equities research analysts predict that Manulife Financial Corp will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Wednesday, May 21st were paid a dividend of $0.3194 per share. The ex-dividend date was Wednesday, May 21st. This is a positive change from Manulife Financial's previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a yield of 4.16%. Manulife Financial's dividend payout ratio is currently 67.02%.

About Manulife Financial

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.

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