Aviva PLC Decreases Position in Manulife Financial Co. (NYSE:MFC)

Aviva PLC cut its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 5.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,004,578 shares of the financial services provider's stock after selling 105,563 shares during the period. Aviva PLC owned about 0.12% of Manulife Financial worth $61,459,000 as of its most recent SEC filing.

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

Manulife Financial Stock Up 1.0 %

Shares of MFC stock traded up $0.29 on Friday, reaching $27.59. 829,451 shares of the stock were exchanged, compared to its average volume of 2,259,220. The stock has a market cap of $47.52 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 1.11 and a beta of 0.89. The firm has a 50 day moving average of $29.88 and a two-hundred day moving average of $30.46. Manulife Financial Co. has a 1-year low of $22.61 and a 1-year high of $33.07.

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Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings results 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 company had revenue of $9.31 billion during the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. On average, equities research analysts predict that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.3094 per share. This represents a $1.24 dividend on an annualized basis and a yield of 4.49%. This is a boost from Manulife Financial's previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, March 5th. Manulife Financial's payout ratio is 58.45%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MFC. Scotiabank reissued an "outperform" rating on shares of Manulife Financial in a research note 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 research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average 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.