Galibier Capital Management Ltd. Has $21.66 Million Stock Position in Manulife Financial Corp (NYSE:MFC)

Galibier Capital Management Ltd. trimmed its position in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 11.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 695,153 shares of the financial services provider's stock after selling 86,420 shares during the period. Manulife Financial accounts for 6.8% of Galibier Capital Management Ltd.'s portfolio, making the stock its 5th biggest position. Galibier Capital Management Ltd.'s holdings in Manulife Financial were worth $21,658,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lee Danner & Bass Inc. bought a new position in shares of Manulife Financial during the fourth quarter valued at $31,000. Lazard Asset Management LLC bought a new position in shares of Manulife Financial during the fourth quarter valued at $35,000. Transce3nd LLC bought a new position in shares of Manulife Financial during the fourth quarter valued at $42,000. Millstone Evans Group LLC bought a new position in shares of Manulife Financial during the fourth quarter valued at $44,000. Finally, Graney & King LLC bought a new position in shares of Manulife Financial during the fourth quarter valued at $53,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Stock Performance

Shares of MFC stock traded down $0.17 during trading hours on Friday, reaching $30.55. The company had a trading volume of 852,640 shares, compared to its average volume of 2,170,471. The business has a fifty day moving average price of $31.49 and a 200-day moving average price of $30.51. Manulife Financial Corp has a one year low of $23.30 and a one year high of $33.07. The firm has a market cap of $52.19 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 1.04 and a beta of 0.99.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings results 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 return on equity of 15.84% and a net margin of 9.58%. The company had revenue of $1.49 billion during the quarter. During the same period in the previous year, the company earned $0.94 EPS. Equities research analysts forecast that Manulife Financial Corp will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

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

Wall Street Analysts Forecast Growth

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

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.