USS Investment Management Ltd Decreases Stock Holdings in Manulife Financial Co. (NYSE:MFC)

USS Investment Management Ltd decreased its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 21.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 469,967 shares of the financial services provider's stock after selling 125,167 shares during the period. USS Investment Management Ltd's holdings in Manulife Financial were worth $14,436,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Little House Capital LLC raised its holdings in Manulife Financial by 1.0% in the 4th quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider's stock valued at $1,037,000 after acquiring an additional 331 shares during the last quarter. Robertson Stephens Wealth Management LLC raised its holdings in Manulife Financial by 1.5% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 23,068 shares of the financial services provider's stock valued at $708,000 after acquiring an additional 339 shares during the last quarter. Erste Asset Management GmbH raised its holdings in Manulife Financial by 0.6% in the 4th quarter. Erste Asset Management GmbH now owns 69,300 shares of the financial services provider's stock valued at $2,133,000 after acquiring an additional 400 shares during the last quarter. TIAA Trust National Association raised its holdings in Manulife Financial by 5.0% in the 4th quarter. TIAA Trust National Association now owns 8,419 shares of the financial services provider's stock valued at $259,000 after acquiring an additional 404 shares during the last quarter. Finally, Addison Advisors LLC raised its holdings in Manulife Financial by 45.9% in the 4th quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 449 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company's stock.

Manulife Financial Price Performance

Shares of NYSE:MFC traded up $0.27 during mid-day trading on Friday, reaching $31.21. 1,162,044 shares of the company were exchanged, compared to its average volume of 2,162,423. The firm has a market cap of $53.45 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 1.11 and a beta of 1.00. The firm's 50-day simple moving average is $30.27 and its 200 day simple moving average is $30.58. Manulife Financial Co. has a 1 year low of $23.30 and a 1 year high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.69 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.01). Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The business had revenue of $1.49 billion during the quarter. During the same period in the previous year, the company earned $0.94 earnings per share. On average, research analysts forecast that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Wednesday, May 21st will be given a $0.3194 dividend. This represents a $1.28 annualized dividend and a yield of 4.09%. The ex-dividend date is Wednesday, May 21st. This is a boost from Manulife Financial's previous quarterly dividend of $0.31. Manulife Financial's dividend payout ratio (DPR) is currently 63.87%.

Analyst Ratings Changes

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

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.