Vident Advisory LLC Decreases Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Vident Advisory LLC cut its stake in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 7.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 98,192 shares of the financial services provider's stock after selling 8,454 shares during the period. Vident Advisory LLC's holdings in Manulife Financial were worth $3,015,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Crews Bank & Trust purchased a new position in shares of Manulife Financial in the fourth quarter valued at about $26,000. Lee Danner & Bass Inc. bought a new stake in Manulife Financial during the fourth quarter worth approximately $31,000. Stonebridge Financial Group LLC bought a new stake in Manulife Financial during the fourth quarter worth approximately $34,000. Golden State Wealth Management LLC bought a new stake in Manulife Financial during the fourth quarter worth approximately $35,000. Finally, Lazard Asset Management LLC bought a new position in shares of Manulife Financial during the fourth quarter valued at approximately $35,000. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Manulife Financial Trading Up 1.7%

Shares of NYSE MFC traded up $0.55 during trading on Tuesday, reaching $31.76. 248,255 shares of the company traded hands, compared to its average volume of 2,424,792. The firm's fifty day simple moving average is $30.28 and its 200 day simple moving average is $30.56. The stock has a market cap of $54.39 billion, a P/E ratio of 15.34, a PEG ratio of 1.11 and a beta of 1.00. Manulife Financial Co. has a 12-month low of $23.30 and a 12-month high of $33.07.

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). 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 for the quarter. During the same quarter in the previous year, the business earned $0.94 EPS. As a group, research analysts expect that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Wednesday, May 21st will be paid a $0.3194 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This is a positive change from Manulife Financial's previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 4.02%. Manulife Financial's dividend payout ratio (DPR) is currently 63.87%.

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.