Aviso Financial Inc. Sells 49,072 Shares of Manulife Financial Co. (NYSE:MFC)

Aviso Financial Inc. trimmed its stake in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 22.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,180 shares of the financial services provider's stock after selling 49,072 shares during the period. Aviso Financial Inc.'s holdings in Manulife Financial were worth $5,135,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MFC. Madison Investment Advisors LLC acquired a new stake in shares of Manulife Financial during the 4th quarter valued at about $1,714,000. Commonwealth Equity Services LLC grew its holdings in shares of Manulife Financial by 1.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 312,357 shares of the financial services provider's stock worth $9,593,000 after purchasing an additional 4,164 shares during the last quarter. Erste Asset Management GmbH increased its position in shares of Manulife Financial by 0.6% during the 4th quarter. Erste Asset Management GmbH now owns 69,300 shares of the financial services provider's stock worth $2,133,000 after purchasing an additional 400 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Manulife Financial by 1.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,334,413 shares of the financial services provider's stock valued at $347,757,000 after purchasing an additional 190,738 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in Manulife Financial by 14.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 19,343 shares of the financial services provider's stock valued at $594,000 after buying an additional 2,451 shares in the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

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Manulife Financial Trading Down 0.2 %

Shares of NYSE:MFC traded down $0.08 during trading on Tuesday, hitting $30.02. 1,209,180 shares of the company's stock were exchanged, compared to its average volume of 1,968,005. The firm has a 50-day moving average price of $30.06 and a two-hundred day moving average price of $30.23. Manulife Financial Co. has a 1-year low of $22.61 and a 1-year high of $33.07. The firm has a market cap of $51.70 billion, a P/E ratio of 14.50, a PEG ratio of 1.11 and a beta of 1.05.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.67 by $0.07. The business had revenue of $9.31 billion for the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. As a group, research analysts predict that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The business 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 boost from Manulife Financial's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 4.12%. Manulife Financial's dividend payout ratio is 58.45%.

Analyst Ratings Changes

A number of equities research analysts recently commented on MFC shares. Scotiabank restated 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 Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target 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.