Callan Family Office LLC Sells 12,514 Shares of Manulife Financial Corp (NYSE:MFC)

Key Points

• Callan Family Office LLC reduced its stake in Manulife Financial Corp by 43.1%, now holding 16,526 shares valued at approximately $515,000.
• Manulife Financial recently increased its quarterly dividend to $0.3199, yielding an annualized dividend of $1.28 and representing a 4.2% dividend yield.
• The company's stock price has shown growth, with MFC stock up 1.1% recently, positioned at $30.49 with a market cap of $51.79 billion.

Callan Family Office LLC cut its stake in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 43.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 16,526 shares of the financial services provider's stock after selling 12,514 shares during the period. Callan Family Office LLC's holdings in Manulife Financial were worth $515,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MFC. Lazard Asset Management LLC bought a new position in Manulife Financial during the 4th quarter worth $35,000. Transce3nd LLC purchased a new stake in shares of Manulife Financial during the fourth quarter valued at $42,000. NBC Securities Inc. lifted its stake in Manulife Financial by 178,700.0% in the 1st quarter. NBC Securities Inc. now owns 1,788 shares of the financial services provider's stock worth $55,000 after acquiring an additional 1,787 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in Manulife Financial in the 1st quarter worth about $59,000. Finally, Ancora Advisors LLC increased its position in Manulife Financial by 34.7% in the 4th quarter. Ancora Advisors LLC now owns 1,943 shares of the financial services provider's stock worth $60,000 after purchasing an additional 500 shares during the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Stock Down 0.6%

Shares of MFC stock traded down $0.19 during mid-day trading on Friday, reaching $30.40. The stock had a trading volume of 3,074,231 shares, compared to its average volume of 2,135,561. The firm's 50 day simple moving average is $31.02 and its 200 day simple moving average is $30.55. Manulife Financial Corp has a one year low of $25.72 and a one year high of $33.07. The firm has a market cap of $51.64 billion, a PE ratio of 13.57, a P/E/G ratio of 1.04 and a beta of 1.01.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.69 EPS for the quarter, missing analysts' consensus estimates of $0.71 by ($0.02). Manulife Financial had a return on equity of 15.77% and a net margin of 10.46%. The firm had revenue of $11.30 billion during the quarter. During the same period in the prior year, the company earned $0.91 EPS. Sell-side analysts forecast that Manulife Financial Corp will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, August 20th will be given a $0.3199 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.2%. This is an increase from Manulife Financial's previous quarterly dividend of $0.32. Manulife Financial's dividend payout ratio is 57.14%.

Wall Street Analyst Weigh In

MFC has been the topic of a number of analyst reports. Morgan Stanley set a $46.00 price objective on Manulife Financial in a report on Monday, May 19th. Royal Bank Of Canada decreased their target price on Manulife Financial from $51.00 to $49.00 and set an "outperform" rating for the company in a research note on Friday, August 8th.

About Manulife Financial

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.