Captrust Financial Advisors Sells 14,127 Shares of Manulife Financial Co. (NYSE:MFC)

Captrust Financial Advisors trimmed its position in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 10.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 123,290 shares of the financial services provider's stock after selling 14,127 shares during the quarter. Captrust Financial Advisors' holdings in Manulife Financial were worth $3,786,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MFC. Crews Bank & Trust bought a new stake in Manulife Financial during the 4th quarter valued at approximately $26,000. Lee Danner & Bass Inc. purchased a new position in shares of Manulife Financial during the fourth quarter valued at approximately $31,000. Stonebridge Financial Group LLC purchased a new position in shares of Manulife Financial during the fourth quarter valued at approximately $34,000. Golden State Wealth Management LLC purchased a new position in shares of Manulife Financial during the fourth quarter valued at approximately $35,000. Finally, CKW Financial Group purchased a new position in shares of Manulife Financial during the fourth quarter valued at approximately $37,000. 52.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MFC. Royal Bank of Canada lifted their target price on shares of 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 report on Monday, February 3rd. One research 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $45.50.

Manulife Financial Stock Up 0.6%

MFC traded up $0.18 during mid-day trading on Tuesday, reaching $31.78. 2,851,122 shares of the company traded hands, compared to its average volume of 2,162,579. The stock has a market capitalization of $54.43 billion, a P/E ratio of 15.35, a P/E/G ratio of 1.11 and a beta of 1.00. The company's fifty day moving average price is $29.85 and its 200-day moving average price is $30.48. Manulife Financial Co. has a 52-week low of $23.30 and a 52-week high of $33.07.

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

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Wednesday, May 21st will be issued a dividend of $0.3194 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $1.28 annualized dividend and a yield of 4.02%. This is an increase from Manulife Financial's previous quarterly dividend of $0.31. Manulife Financial's payout ratio is currently 63.87%.

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.