Two Sigma Advisers LP Sells 174,455 Shares of Manulife Financial Co. (NYSE:MFC)

Two Sigma Advisers LP lessened its holdings in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 50.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 174,300 shares of the financial services provider's stock after selling 174,455 shares during the quarter. Two Sigma Advisers LP's holdings in Manulife Financial were worth $5,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Crews Bank & Trust purchased a new position in Manulife Financial during the fourth quarter valued at approximately $26,000. Lee Danner & Bass Inc. purchased a new stake in shares of Manulife Financial in the fourth quarter worth $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Manulife Financial during the 4th quarter valued at $34,000. Golden State Wealth Management LLC purchased a new position in shares of Manulife Financial during the 4th quarter valued at $35,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Manulife Financial during the 4th quarter valued at $35,000. Institutional investors own 52.56% of the company's stock.

Manulife Financial Stock Down 0.7%

MFC stock traded down $0.23 during mid-day trading on Wednesday, hitting $31.53. The company had a trading volume of 1,513,248 shares, compared to its average volume of 2,141,970. The company has a 50-day moving average price of $30.31 and a 200 day moving average price of $30.57. Manulife Financial Co. has a 12-month low of $23.30 and a 12-month high of $33.07. The company has a market capitalization of $54.00 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 1.11 and a beta of 1.00.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its earnings results on Wednesday, May 7th. The financial services provider reported $0.69 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.01). The firm had revenue of $1.49 billion during the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. During the same quarter in the prior year, the company earned $0.94 EPS. As a group, analysts expect that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.3194 per share. This is an increase from Manulife Financial's previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend is Wednesday, May 21st. Manulife Financial's dividend payout ratio is currently 63.87%.

Wall Street Analysts Forecast Growth

MFC has been the subject of a number of analyst reports. Royal Bank of Canada increased their price target on Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. Scotiabank reiterated an "outperform" rating on shares of Manulife Financial in a research report on Monday, February 3rd. Finally, Morgan Stanley set a $46.00 price target on Manulife Financial in a report on Monday, May 19th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $45.67.

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.