Manulife Financial Corp $MFC Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors trimmed its Manulife Financial stake by 1.2% in the first quarter, selling 101,706 shares. It still held 8.26 million shares worth about $284.4 million.
• Manulife Financial recently reported quarterly EPS of $0.77, slightly below analyst expectations of $0.79, though revenue came in at $8.89 billion. Analysts still expect full-year EPS of about 3.03.
• The company paid a quarterly dividend of $0.485 per share, equal to an annualized yield of 4.5%. Analysts currently have a consensus rating of Moderate Buy with a target price of $51.50.

Dimensional Fund Advisors LP cut its position in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 1.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,257,487 shares of the financial services provider's stock after selling 101,706 shares during the quarter. Dimensional Fund Advisors LP owned 0.49% of Manulife Financial worth $284,352,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of MFC. Basepoint Wealth LLC acquired a new stake in Manulife Financial during the 4th quarter worth approximately $25,000. Hantz Financial Services Inc. acquired a new position in shares of Manulife Financial in the fourth quarter worth $28,000. Sfam LLC acquired a new position in shares of Manulife Financial in the fourth quarter worth $28,000. Heritage Wealth Advisors purchased a new stake in shares of Manulife Financial during the fourth quarter worth $30,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Manulife Financial during the first quarter worth $29,000. Institutional investors and hedge funds own 52.56% of the company's stock.

Manulife Financial Price Performance

NYSE:MFC opened at $43.10 on Thursday. The firm has a market capitalization of $71.63 billion, a PE ratio of 17.10 and a beta of 0.84. The business's fifty day moving average price is $40.10 and its 200 day moving average price is $37.86. Manulife Financial Corp has a 12 month low of $29.70 and a 12 month high of $43.56.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings results on Wednesday, May 13th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.79 by ($0.02). The business had revenue of $8.89 billion for the quarter, compared to analysts' expectations of $2.32 billion. Manulife Financial had a return on equity of 16.58% and a net margin of 10.19%.During the same period last year, the firm earned $0.99 earnings per share. As a group, equities analysts anticipate that Manulife Financial Corp will post 3.03 EPS for the current year.

Manulife Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, May 29th were paid a dividend of $0.485 per share. The ex-dividend date was Friday, May 29th. This represents a $1.94 annualized dividend and a yield of 4.5%. Manulife Financial's payout ratio is presently 56.75%.

Wall Street Analyst Weigh In

Several research analysts recently commented on MFC shares. Scotiabank reissued an "outperform" rating on shares of Manulife Financial in a research note on Wednesday, July 15th. Zacks Research cut Manulife Financial from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 15th. Weiss Ratings downgraded Manulife Financial from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Tuesday. Finally, TD Securities restated a "buy" rating on shares of Manulife Financial in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $51.50.

Manulife Financial Company Profile

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.

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