Americana Partners LLC Has $1.75 Million Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Americana Partners LLC decreased its stake in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 18.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,092 shares of the financial services provider's stock after selling 12,875 shares during the period. Americana Partners LLC's holdings in Manulife Financial were worth $1,753,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Brooklyn Investment Group bought a new stake in Manulife Financial during the 3rd quarter valued at $26,000. Crews Bank & Trust bought a new stake in Manulife Financial during the 4th quarter valued at $26,000. Capital Performance Advisors LLP bought a new stake in Manulife Financial during the 3rd quarter valued at $30,000. Fortitude Family Office LLC bought a new stake in Manulife Financial during the 3rd quarter valued at $31,000. Finally, Stonebridge Financial Group LLC bought a new stake in Manulife Financial during the 4th quarter valued at $34,000. Institutional investors own 52.56% of the company's stock.

Manulife Financial Trading Down 4.6 %

Shares of NYSE MFC traded down $1.46 during mid-day trading on Friday, reaching $30.36. The company had a trading volume of 2,557,574 shares, compared to its average volume of 2,066,261. The stock has a market cap of $52.32 billion, a PE ratio of 14.67, a P/E/G ratio of 1.04 and a beta of 1.09. The company has a 50-day moving average price of $30.32 and a two-hundred day moving average price of $29.75. Manulife Financial Co. has a 1-year low of $22.61 and a 1-year high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.07. Manulife Financial had a return on equity of 16.15% and a net margin of 10.08%. The business had revenue of $9.31 billion for the quarter. On average, research analysts expect that Manulife Financial Co. will post 2.88 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.3094 per share. This is an increase from Manulife Financial's previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.08%. Manulife Financial's payout ratio is currently 59.42%.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada lifted their target price on Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a research note on Friday. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Manulife Financial currently has a consensus rating of "Buy" and an average target price of $45.50.

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.