Triasima Portfolio Management inc. Reduces Holdings in Manulife Financial Corp $MFC

Key Points

• Triasima Portfolio Management Inc. reduced its holdings in Manulife Financial Corp by 40.5%, selling 146,893 shares and ending up with 215,410 shares, now representing 1.3% of its investment portfolio.
• Manulife Financial recently announced a quarterly dividend increase to $0.3199 per share, with a dividend yield of 4.0% and a payout ratio of 56.70%.
• Despite a miss on earnings estimates, analysts maintain a consensus "Buy" rating for Manulife Financial, with a target price of $48.00.

Triasima Portfolio Management inc. lessened its position in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 40.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 215,410 shares of the financial services provider's stock after selling 146,893 shares during the period. Manulife Financial accounts for 1.3% of Triasima Portfolio Management inc.'s investment portfolio, making the stock its 24th largest position. Triasima Portfolio Management inc.'s holdings in Manulife Financial were worth $6,874,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MFC. William B. Walkup & Associates Inc. purchased a new position in shares of Manulife Financial during the 1st quarter valued at $43,000. NBC Securities Inc. lifted its position in shares of Manulife Financial by 178,700.0% during the 1st quarter. NBC Securities Inc. now owns 1,788 shares of the financial services provider's stock valued at $55,000 after buying an additional 1,787 shares during the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Manulife Financial during the 2nd quarter valued at $55,000. Carderock Capital Management Inc. purchased a new stake in Manulife Financial during the 2nd quarter worth about $58,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Manulife Financial during the 1st quarter worth about $59,000. Hedge funds and other institutional investors own 52.56% of the company's stock.

Manulife Financial Stock Down 0.5%

Shares of NYSE MFC opened at $32.14 on Wednesday. The firm has a market capitalization of $54.45 billion, a P/E ratio of 14.35, a P/E/G ratio of 1.08 and a beta of 0.98. The stock's 50-day simple moving average is $30.89 and its two-hundred day simple moving average is $30.83. Manulife Financial Corp has a twelve month low of $25.92 and a twelve month high of $33.07.

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 the consensus estimate of $0.71 by ($0.02). The firm had revenue of $11.30 billion for the quarter. Manulife Financial had a net margin of 10.46% and a return on equity of 15.77%. During the same quarter in the previous year, the business earned $0.91 EPS. As a group, research analysts anticipate that Manulife Financial Corp will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Wednesday, August 20th were given a dividend of $0.3199 per share. This is a boost from Manulife Financial's previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, August 20th. This represents a $1.28 annualized dividend and a dividend yield of 4.0%. Manulife Financial's dividend payout ratio is currently 56.70%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Royal Bank Of Canada dropped their price objective on Manulife Financial from $51.00 to $49.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Weiss Ratings reissued a "buy (a-)" rating on shares of Manulife Financial in a report on Saturday, September 27th. Finally, Morgan Stanley set a $47.00 price objective on Manulife Financial in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat, Manulife Financial currently has a consensus rating of "Buy" and a consensus target price of $48.00.

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.

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