Manulife Financial Co. (NYSE:MFC) Shares Sold by Atria Investments Inc

Atria Investments Inc lowered its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 15.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,496 shares of the financial services provider's stock after selling 12,654 shares during the quarter. Atria Investments Inc's holdings in Manulife Financial were worth $2,165,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MFC. Brooklyn Investment Group acquired a new stake in Manulife Financial during the 3rd quarter worth about $26,000. Crews Bank & Trust purchased a new stake in shares of Manulife Financial in the fourth quarter worth about $26,000. Capital Performance Advisors LLP acquired a new stake in Manulife Financial during the third quarter worth about $30,000. Stonebridge Financial Group LLC purchased a new position in Manulife Financial during the fourth quarter valued at approximately $34,000. Finally, Golden State Wealth Management LLC acquired a new position in Manulife Financial in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 52.56% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MFC shares. 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 reaffirmed an "outperform" rating on shares of Manulife Financial in a report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $45.50.

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Manulife Financial Trading Down 2.6 %

NYSE:MFC traded down $0.75 during trading hours on Monday, reaching $28.51. 1,694,029 shares of the company were exchanged, compared to its average volume of 1,981,106. The firm has a market cap of $49.13 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a twelve month low of $22.61 and a twelve month high of $33.07. The stock's 50-day moving average is $30.25 and its 200-day moving average is $30.15.

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 (EPS) for the quarter, topping 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 firm had revenue of $9.31 billion for the quarter. As a group, research analysts anticipate that Manulife Financial Co. will post 2.87 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. Investors of record on Wednesday, March 5th will be given a dividend of $0.3094 per share. The ex-dividend date is Wednesday, March 5th. This is a positive change from Manulife Financial's previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 4.34%. Manulife Financial's payout ratio is presently 58.45%.

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.