Manulife Financial Co. (NYSE:MFC) is Caldwell Investment Management Ltd.'s 8th Largest Position

Caldwell Investment Management Ltd. decreased its stake in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 15.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,000 shares of the financial services provider's stock after selling 33,800 shares during the period. Manulife Financial comprises about 3.8% of Caldwell Investment Management Ltd.'s holdings, making the stock its 8th largest holding. Caldwell Investment Management Ltd.'s holdings in Manulife Financial were worth $5,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Grove Bank & Trust acquired a new position in shares of Manulife Financial in the second quarter valued at approximately $25,000. West Financial Advisors LLC acquired a new position in Manulife Financial in the 3rd quarter valued at approximately $26,000. Addison Advisors LLC raised its stake in shares of 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 acquiring an additional 467 shares during the last quarter. HHM Wealth Advisors LLC lifted its holdings in shares of Manulife Financial by 119.0% during 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 period. Finally, Capital Performance Advisors LLP bought a new stake in shares of Manulife Financial in the third quarter worth $30,000. Institutional investors and hedge funds own 52.56% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MFC. Barclays assumed coverage on Manulife Financial in a research report on Thursday, September 5th. They set an "equal weight" rating for the company. Dbs Bank upgraded Manulife Financial to a "strong-buy" rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, six 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 presently has an average rating of "Buy" and a consensus target price of $37.50.

Manulife Financial Stock Up 0.7 %

MFC traded up $0.24 during trading on Tuesday, reaching $32.57. 3,138,448 shares of the stock traded hands, compared to its average volume of 2,545,798. The stock's 50-day moving average is $30.11 and its 200 day moving average is $27.55. Manulife Financial Co. has a 12 month low of $18.91 and a 12 month high of $33.07. The stock has a market capitalization of $57.06 billion, a PE ratio of 15.73, a P/E/G ratio of 1.19 and a beta of 1.08.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.30. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The business had revenue of $10.69 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same period in the prior year, the firm earned $0.69 earnings per share. As a group, equities research analysts anticipate that Manulife Financial Co. will post 2.74 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be paid a $0.296 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.64%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial's dividend payout ratio (DPR) is 56.04%.

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.