Manulife Financial Corp (NYSE:MFC) Position Trimmed by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. cut its position in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 4.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 362,303 shares of the financial services provider's stock after selling 14,911 shares during the period. Manulife Financial makes up 2.2% of Triasima Portfolio Management inc.'s portfolio, making the stock its 7th largest holding. Triasima Portfolio Management inc.'s holdings in Manulife Financial were worth $11,288,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Manulife Financial during the 4th quarter valued at about $654,751,000. FIL Ltd raised its holdings in shares of Manulife Financial by 21.7% in the 4th quarter. FIL Ltd now owns 39,610,614 shares of the financial services provider's stock valued at $1,216,880,000 after purchasing an additional 7,053,066 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Manulife Financial by 28.7% during the 4th quarter. Geode Capital Management LLC now owns 10,650,598 shares of the financial services provider's stock worth $333,291,000 after acquiring an additional 2,377,338 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Manulife Financial by 42.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 7,427,745 shares of the financial services provider's stock worth $227,895,000 after acquiring an additional 2,200,000 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its stake in shares of Manulife Financial by 216.0% during the 4th quarter. Hillsdale Investment Management Inc. now owns 2,545,393 shares of the financial services provider's stock worth $78,110,000 after acquiring an additional 1,739,853 shares in the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Manulife Financial Stock Down 0.2%

Shares of NYSE MFC traded down $0.06 during trading hours on Friday, hitting $30.85. 2,156,311 shares of the stock were exchanged, compared to its average volume of 2,180,182. The company has a market cap of $52.69 billion, a PE ratio of 10.93, a PEG ratio of 1.04 and a beta of 0.99. The firm has a fifty day moving average price of $31.41 and a 200-day moving average price of $30.51. Manulife Financial Corp has a 12 month low of $23.30 and a 12 month high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released 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). The company 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 company posted $0.94 earnings per share. As a group, equities analysts anticipate that Manulife Financial Corp will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Wednesday, May 21st were given a dividend of $0.3194 per share. This represents a $1.28 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Wednesday, May 21st. This is an increase from Manulife Financial's previous quarterly dividend of $0.31. Manulife Financial's payout ratio is currently 67.02%.

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.