Clearbridge Investments LLC lessened its holdings in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 34.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,101,946 shares of the financial services provider's stock after selling 571,825 shares during the quarter. Clearbridge Investments LLC owned approximately 0.06% of Manulife Financial worth $33,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of MFC. CIBC Private Wealth Group LLC raised its stake in Manulife Financial by 83.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 19,595 shares of the financial services provider's stock worth $601,000 after acquiring an additional 8,922 shares during the period. Norges Bank purchased a new stake in Manulife Financial in the 4th quarter worth $654,751,000. Graney & King LLC bought a new stake in Manulife Financial during the fourth quarter valued at about $53,000. Financial Counselors Inc. lifted its position in shares of Manulife Financial by 14.4% in the fourth quarter. Financial Counselors Inc. now owns 21,717 shares of the financial services provider's stock valued at $667,000 after acquiring an additional 2,733 shares in the last quarter. Finally, Mufg Securities Canada LTD. boosted its stake in shares of Manulife Financial by 69.5% in the fourth quarter. Mufg Securities Canada LTD. now owns 2,675,176 shares of the financial services provider's stock worth $82,130,000 after acquiring an additional 1,096,933 shares during the period. Institutional investors own 52.56% of the company's stock.
Manulife Financial Price Performance
Shares of MFC stock traded down $2.84 during trading hours on Friday, hitting $27.79. The stock had a trading volume of 4,745,407 shares, compared to its average volume of 2,222,802. The stock's 50-day moving average price is $30.16 and its two-hundred day moving average price is $30.53. Manulife Financial Co. has a one year low of $22.61 and a one year high of $33.07. The stock has a market capitalization of $47.87 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 1.11 and a beta of 0.89.
Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its quarterly earnings data 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. 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, equities research analysts predict that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.
Manulife Financial Increases Dividend
The firm also recently disclosed 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. The ex-dividend date was Wednesday, March 5th. This represents a $1.24 annualized dividend and a yield of 4.45%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.30. Manulife Financial's dividend payout ratio (DPR) is 58.45%.
Analyst Upgrades and Downgrades
MFC has been the topic of several recent analyst reports. Scotiabank reissued an "outperform" rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada lifted their price objective on shares of Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $45.50.
View Our Latest Analysis on MFC
About Manulife Financial
(
Free Report)
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.
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