DAVENPORT & Co LLC Sells 15,601 Shares of Manulife Financial Co. (NYSE:MFC)

DAVENPORT & Co LLC decreased its holdings in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 14.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,591 shares of the financial services provider's stock after selling 15,601 shares during the period. DAVENPORT & Co LLC's holdings in Manulife Financial were worth $2,843,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MFC. Haven Global Partners LLC bought a new position in shares of Manulife Financial during the fourth quarter valued at $13,060,000. Mediolanum International Funds Ltd acquired a new position in Manulife Financial in the fourth quarter valued at about $590,000. Crews Bank & Trust bought a new stake in Manulife Financial during the fourth quarter worth about $26,000. Lewis Asset Management LLC increased its holdings in shares of Manulife Financial by 21.2% during the fourth quarter. Lewis Asset Management LLC now owns 9,791 shares of the financial services provider's stock worth $301,000 after buying an additional 1,713 shares in the last quarter. Finally, OLD National Bancorp IN raised its stake in shares of Manulife Financial by 10.1% in the fourth quarter. OLD National Bancorp IN now owns 9,029 shares of the financial services provider's stock valued at $277,000 after acquiring an additional 831 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors.

Manulife Financial Trading Up 0.4 %

NYSE MFC traded up $0.13 during trading hours on Friday, reaching $30.14. 2,002,424 shares of the company's stock were exchanged, compared to its average volume of 1,887,462. The firm has a fifty day moving average of $30.68 and a 200-day moving average of $29.45. Manulife Financial Co. has a one year low of $21.95 and a one year high of $33.07. The stock has a market cap of $51.94 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.04 and a beta of 1.09.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The company had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same period last year, the company posted $0.69 earnings per share. As a group, research analysts forecast that Manulife Financial Co. will post 2.65 EPS for the current year.

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.