Envestnet Asset Management Inc. Has $32.81 Million Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Envestnet Asset Management Inc. decreased its position in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 14.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,068,426 shares of the financial services provider's stock after selling 181,143 shares during the quarter. Envestnet Asset Management Inc. owned about 0.06% of Manulife Financial worth $32,811,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Crews Bank & Trust acquired a new stake in Manulife Financial in the 4th quarter valued at about $26,000. Lee Danner & Bass Inc. acquired a new stake in Manulife Financial during the fourth quarter valued at approximately $31,000. Stonebridge Financial Group LLC bought a new stake in Manulife Financial during the fourth quarter worth approximately $34,000. Golden State Wealth Management LLC bought a new stake in Manulife Financial during the fourth quarter worth approximately $35,000. Finally, CKW Financial Group acquired a new position in Manulife Financial in the fourth quarter worth approximately $37,000. Institutional investors own 52.56% of the company's stock.

Manulife Financial Stock Up 0.8 %

Shares of MFC traded up $0.23 during mid-day trading on Tuesday, reaching $28.99. The company's stock had a trading volume of 1,604,916 shares, compared to its average volume of 2,244,969. The company has a market cap of $49.82 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 1.11 and a beta of 0.89. The business has a fifty day moving average of $29.83 and a 200 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 posted 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. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The business had revenue of $9.31 billion during the quarter. On average, analysts predict that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a dividend of $0.3094 per share. This represents a $1.24 annualized dividend and a dividend yield of 4.27%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, March 5th. Manulife Financial's dividend payout ratio (DPR) is currently 58.45%.

Wall Street Analyst Weigh In

Several research firms have recently 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 price target on 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 issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $45.50.

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.