The Manufacturers Life Insurance Company Trims Holdings in Manulife Financial Co. (NYSE:MFC)

The Manufacturers Life Insurance Company reduced its stake in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 4.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,947,035 shares of the financial services provider's stock after selling 88,628 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.11% of Manulife Financial worth $59,894,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MFC. Crews Bank & Trust purchased a new stake in shares of Manulife Financial in the 4th quarter valued at $26,000. Lee Danner & Bass Inc. purchased a new stake in Manulife Financial in the fourth quarter valued at $31,000. Stonebridge Financial Group LLC acquired a new stake in Manulife Financial during the 4th quarter worth about $34,000. Golden State Wealth Management LLC purchased a new position in shares of Manulife Financial during the 4th quarter valued at about $35,000. Finally, CKW Financial Group acquired a new position in shares of Manulife Financial in the 4th quarter valued at about $37,000. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Stock Performance

Shares of Manulife Financial stock traded up $0.72 on Friday, hitting $31.56. The company's stock had a trading volume of 2,135,618 shares, compared to its average volume of 2,206,902. The company has a market capitalization of $54.23 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 1.11 and a beta of 1.00. The firm has a fifty day moving average price of $29.74 and a 200-day moving average price of $30.43. 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 posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.07. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The business had revenue of $9.31 billion during the quarter. As a group, analysts forecast that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.3094 dividend. This is a positive change from Manulife Financial's previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, March 5th. This represents a $1.24 annualized dividend and a dividend yield of 3.92%. Manulife Financial's dividend payout ratio (DPR) is 58.45%.

Analysts Set New Price Targets

MFC has been the topic of several analyst reports. Scotiabank reaffirmed an "outperform" rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada raised their price objective on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Manulife Financial currently has an average rating of "Buy" and a consensus price target 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.