Graham Capital Management L.P. Sells 9,795 Shares of Manulife Financial Co. (NYSE:MFC)

Graham Capital Management L.P. lessened its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 4.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 200,441 shares of the financial services provider's stock after selling 9,795 shares during the quarter. Graham Capital Management L.P.'s holdings in Manulife Financial were worth $6,156,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Crews Bank & Trust acquired a new position in Manulife Financial during the 4th quarter valued at about $26,000. Lee Danner & Bass Inc. bought a new position in shares of Manulife Financial during the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC bought a new position in shares of Manulife Financial during the 4th quarter worth approximately $34,000. Golden State Wealth Management LLC acquired a new stake in shares of Manulife Financial in the 4th quarter valued at approximately $35,000. Finally, CKW Financial Group acquired a new stake in shares of Manulife Financial in the 4th quarter valued at approximately $37,000. Institutional investors own 52.56% of the company's stock.

Analyst Ratings Changes

MFC has been the subject of several research reports. Royal Bank of Canada raised their price target on Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a report on Friday, February 21st. Scotiabank restated an "outperform" rating on shares of Manulife Financial in a research report on Monday, February 3rd. One 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. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $45.50.

Manulife Financial Price Performance

Shares of NYSE:MFC traded up $0.18 during trading on Tuesday, reaching $31.78. 172,345 shares of the stock were exchanged, compared to its average volume of 2,153,247. Manulife Financial Co. has a 1-year low of $23.30 and a 1-year high of $33.07. The stock has a fifty day moving average of $29.85 and a two-hundred day moving average of $30.48. The firm has a market cap of $54.43 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 1.11 and a beta of 1.00.

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 the consensus estimate of $0.70 by ($0.01). Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The company had revenue of $1.49 billion for the quarter. During the same period in the prior year, the business earned $0.94 EPS. Sell-side analysts forecast that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

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