BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Trims Holdings in Manulife Financial Co. (NYSE:MFC)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its position in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 50.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 571,953 shares of the financial services provider's stock after selling 589,106 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Manulife Financial were worth $16,901,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MFC. Grove Bank & Trust purchased a new position in Manulife Financial in the 2nd quarter worth about $25,000. West Financial Advisors LLC purchased a new position in shares of Manulife Financial during the third quarter valued at approximately $26,000. Brooklyn Investment Group purchased a new position in shares of Manulife Financial during the third quarter valued at approximately $26,000. Addison Advisors LLC lifted its position in Manulife Financial by 77.2% during the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 467 shares during the period. Finally, HHM Wealth Advisors LLC boosted its holdings in Manulife Financial by 119.0% in the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider's stock worth $29,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 52.56% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Dbs Bank raised Manulife Financial to a "strong-buy" rating in a research report on Thursday, August 8th. Barclays began coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They set an "equal weight" rating for the company. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Manulife Financial currently has an average rating of "Buy" and a consensus target price of $37.50.

Manulife Financial Stock Up 0.8 %

Manulife Financial stock traded up $0.24 during midday trading on Friday, reaching $32.13. 790,252 shares of the stock traded hands, compared to its average volume of 2,197,596. The stock has a market cap of $56.29 billion, a P/E ratio of 15.52, a PEG ratio of 1.18 and a beta of 1.08. The stock's fifty day moving average is $30.73 and its 200-day moving average is $27.93. Manulife Financial Co. has a 12 month low of $19.23 and a 12 month high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.30. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The company had revenue of $10.69 billion for the quarter, compared to the consensus estimate of $9.73 billion. During the same quarter in the prior year, the firm earned $0.69 earnings per share. On average, equities analysts predict that Manulife Financial Co. will post 2.72 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be given a $0.296 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This is an increase from Manulife Financial's previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a yield of 3.69%. Manulife Financial's dividend payout ratio (DPR) is currently 57.00%.

Manulife Financial Company 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.