Manulife Financial Corp (NYSE:MFC) Shares Sold by Galibier Capital Management Ltd.

Galibier Capital Management Ltd. lowered its position in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 11.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 695,153 shares of the financial services provider's stock after selling 86,420 shares during the period. Manulife Financial makes up approximately 6.8% of Galibier Capital Management Ltd.'s investment portfolio, making the stock its 5th biggest holding. Galibier Capital Management Ltd.'s holdings in Manulife Financial were worth $21,658,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. FIL Ltd grew its position in shares of 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 buying an additional 7,053,066 shares in the last quarter. TD Asset Management Inc. increased its stake 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 valued at $1,068,654,000 after purchasing an additional 228,863 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Manulife Financial by 0.9% in the 4th quarter. Mackenzie Financial Corp now owns 24,614,416 shares of the financial services provider's stock valued at $755,367,000 after acquiring an additional 230,105 shares during the period. Toronto Dominion Bank increased its holdings in shares of Manulife Financial by 4.1% in the fourth quarter. Toronto Dominion Bank now owns 22,812,909 shares of the financial services provider's stock valued at $699,948,000 after purchasing an additional 902,466 shares during the period. Finally, Norges Bank purchased a new position in shares of Manulife Financial in the fourth quarter worth about $654,751,000. Hedge funds and other institutional investors own 52.56% of the company's stock.

Wall Street Analysts Forecast Growth

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

Manulife Financial Stock Up 0.8%

Shares of NYSE:MFC traded up $0.25 during trading on Thursday, hitting $30.72. 1,778,012 shares of the stock traded hands, compared to its average volume of 2,175,580. The company has a fifty day moving average price of $31.50 and a two-hundred day moving average price of $30.51. The company has a market cap of $52.47 billion, a price-to-earnings ratio of 10.81, a P/E/G ratio of 1.04 and a beta of 0.99. Manulife Financial Corp has a 52-week low of $23.30 and a 52-week high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its earnings results on Wednesday, May 7th. The financial services provider reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.01). Manulife Financial had a return on equity of 15.84% and a net margin of 9.58%. The business had revenue of $1.49 billion for the quarter. During the same period last year, the firm posted $0.94 earnings per share. On average, equities research analysts predict that Manulife Financial Corp will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Wednesday, May 21st were paid a $0.3194 dividend. 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 dividend on an annualized basis and a yield of 4.16%. Manulife Financial's dividend payout ratio (DPR) is currently 67.02%.

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.