Manulife Financial Co. (NYSE:MFC) Position Decreased by Investment Management Corp of Ontario

Investment Management Corp of Ontario trimmed its holdings in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 13.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 68,395 shares of the financial services provider's stock after selling 10,500 shares during the period. Investment Management Corp of Ontario's holdings in Manulife Financial were worth $2,100,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of MFC. Little House Capital LLC grew its position in shares of Manulife Financial by 1.0% during the fourth quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider's stock worth $1,037,000 after acquiring an additional 331 shares during the last quarter. Robertson Stephens Wealth Management LLC grew its position in shares of Manulife Financial by 1.5% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 23,068 shares of the financial services provider's stock worth $708,000 after acquiring an additional 339 shares during the last quarter. Erste Asset Management GmbH grew its position in shares of Manulife Financial by 0.6% during the fourth quarter. Erste Asset Management GmbH now owns 69,300 shares of the financial services provider's stock worth $2,133,000 after acquiring an additional 400 shares during the last quarter. TIAA Trust National Association grew its position in shares of Manulife Financial by 5.0% during the fourth quarter. TIAA Trust National Association now owns 8,419 shares of the financial services provider's stock worth $259,000 after acquiring an additional 404 shares during the last quarter. Finally, Addison Advisors LLC grew its position in shares of Manulife Financial by 45.9% during the fourth quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider's stock worth $44,000 after acquiring an additional 449 shares during the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Trading Up 0.4%

MFC traded up $0.14 on Friday, reaching $32.01. The company had a trading volume of 1,685,257 shares, compared to its average volume of 2,167,202. The company has a fifty day moving average of $30.08 and a 200-day moving average of $30.53. The company has a market capitalization of $54.82 billion, a P/E ratio of 15.46, a PEG ratio of 1.11 and a beta of 1.00. Manulife Financial Co. has a one year low of $23.30 and a one year 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 (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.01). The company had revenue of $1.49 billion during 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 earned $0.94 EPS. Research analysts predict that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently disclosed 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 a positive change from Manulife Financial's previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, May 21st. This represents a $1.28 annualized dividend and a dividend yield of 3.99%. Manulife Financial's dividend payout ratio (DPR) is 63.87%.

Wall Street Analysts Forecast Growth

MFC has been the subject of a number of recent analyst reports. Scotiabank reiterated an "outperform" rating on shares of Manulife Financial in a research report on Monday, February 3rd. Royal Bank of Canada increased their target price on shares of Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. 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.com, Manulife Financial has a consensus rating of "Buy" and a consensus target price of $45.50.

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.