Crestwood Advisors Group LLC Sells 22,565 Shares of Manulife Financial Corp (NYSE:MFC)

Crestwood Advisors Group LLC lessened its position in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 5.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 414,732 shares of the financial services provider's stock after selling 22,565 shares during the quarter. Crestwood Advisors Group LLC's holdings in Manulife Financial were worth $12,919,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of MFC. Lee Danner & Bass Inc. acquired a new stake in Manulife Financial in the 4th quarter valued at approximately $31,000. Lazard Asset Management LLC acquired a new position in shares of Manulife Financial during the 4th quarter worth approximately $35,000. Transce3nd LLC acquired a new position in shares of Manulife Financial during the 4th quarter worth approximately $42,000. Millstone Evans Group LLC acquired a new position in shares of Manulife Financial during the 4th quarter worth approximately $44,000. Finally, Graney & King LLC acquired a new position in shares of Manulife Financial during the 4th quarter worth approximately $53,000. Institutional investors and hedge funds own 52.56% of the company's stock.

Manulife Financial Trading Down 0.9%

Shares of NYSE:MFC traded down $0.29 during trading on Monday, hitting $30.54. 2,200,574 shares of the company were exchanged, compared to its average volume of 2,180,261. The stock has a market cap of $52.15 billion, a price-to-earnings ratio of 10.93, a P/E/G ratio of 1.04 and a beta of 0.99. 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 fifty day moving average price of $31.41 and a two-hundred day moving average price of $30.51.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its earnings results 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). The business had revenue of $1.49 billion for the quarter. Manulife Financial had a return on equity of 15.84% and a net margin of 9.58%. During the same quarter in the previous year, the firm earned $0.94 earnings per share. As a group, research analysts predict that Manulife Financial Corp will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Wednesday, May 21st were issued a dividend of $0.3194 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This is a positive change from Manulife Financial's previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.18%. Manulife Financial's payout ratio is presently 67.02%.

Wall Street Analysts Forecast Growth

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

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.