Natixis Advisors LLC Sells 10,554 Shares of Manulife Financial Corp (NYSE:MFC)

Key Points

• Natixis Advisors LLC reduced its stake in Manulife Financial Corp by 3.1%, now owning 334,984 shares valued at approximately $10.43 million.
• Manulife Financial announced an increase in its quarterly dividend to $0.3194 per share, resulting in an annualized dividend of $1.28 with a yield of 4.1%.
• Shares of Manulife Financial traded at $30.89, with a market capitalization of $52.62 billion and a price-to-earnings ratio of 16.17.

Natixis Advisors LLC trimmed its holdings in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 334,984 shares of the financial services provider's stock after selling 10,554 shares during the quarter. Natixis Advisors LLC's holdings in Manulife Financial were worth $10,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Brighton Jones LLC raised its position in Manulife Financial by 33.9% in the 4th quarter. Brighton Jones LLC now owns 9,393 shares of the financial services provider's stock valued at $288,000 after buying an additional 2,376 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Manulife Financial by 60.4% during the fourth quarter. Prudential Financial Inc. now owns 36,200 shares of the financial services provider's stock valued at $1,112,000 after purchasing an additional 13,638 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Manulife Financial by 1.3% during the fourth quarter. Wellington Management Group LLP now owns 652,730 shares of the financial services provider's stock worth $20,042,000 after purchasing an additional 8,128 shares during the last quarter. World Investment Advisors grew its position in Manulife Financial by 23.3% in the 4th quarter. World Investment Advisors now owns 15,223 shares of the financial services provider's stock worth $467,000 after purchasing an additional 2,872 shares in the last quarter. Finally, Thoroughbred Financial Services LLC purchased a new stake in Manulife Financial in the 4th quarter valued at about $448,000. Institutional investors own 52.56% of the company's stock.

Wall Street Analyst Weigh In

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

Manulife Financial Stock Down 0.2%

Shares of Manulife Financial stock traded down $0.05 during trading on Tuesday, reaching $30.82. The company's stock had a trading volume of 1,520,810 shares, compared to its average volume of 1,849,606. The company has a market cap of $52.50 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.04 and a beta of 1.01. The firm's 50-day moving average is $31.29 and its two-hundred day moving average is $30.55. Manulife Financial Corp has a 52-week low of $23.91 and a 52-week high of $33.07.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.01). Manulife Financial had a net margin of 9.58% and a return on equity of 15.84%. The business had revenue of $1.49 billion for the quarter. During the same quarter in the previous year, the company posted $0.94 EPS. On average, equities research analysts anticipate that Manulife Financial Corp will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Wednesday, May 21st were issued a dividend of $0.3194 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This is a positive change from Manulife Financial's previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a dividend yield of 4.1%. Manulife Financial's dividend payout ratio is presently 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.