Fiera Capital Corp Reduces Stock Position in Manulife Financial Co. (NYSE:MFC)

Fiera Capital Corp lowered its stake in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 78.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,898 shares of the financial services provider's stock after selling 76,444 shares during the quarter. Fiera Capital Corp's holdings in Manulife Financial were worth $618,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Americana Partners LLC boosted its holdings in Manulife Financial by 0.5% during the 3rd quarter. Americana Partners LLC now owns 69,967 shares of the financial services provider's stock valued at $2,068,000 after acquiring an additional 364 shares during the period. Indiana Trust & Investment Management CO lifted its holdings in shares of Manulife Financial by 22.2% in the 2nd quarter. Indiana Trust & Investment Management CO now owns 2,540 shares of the financial services provider's stock worth $68,000 after buying an additional 462 shares during the period. Addison Advisors LLC lifted its holdings in shares of Manulife Financial by 77.2% in the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider's stock worth $29,000 after buying an additional 467 shares during the period. LRI Investments LLC lifted its holdings in shares of Manulife Financial by 8.6% in the 2nd quarter. LRI Investments LLC now owns 6,819 shares of the financial services provider's stock worth $182,000 after buying an additional 542 shares during the period. Finally, Arkadios Wealth Advisors lifted its holdings in shares of Manulife Financial by 1.3% in the 3rd quarter. Arkadios Wealth Advisors now owns 41,841 shares of the financial services provider's stock worth $1,236,000 after buying an additional 547 shares during the period. Hedge funds and other institutional investors own 52.56% of the company's stock.

Manulife Financial Trading Up 2.3 %

Shares of MFC traded up $0.74 during trading hours on Monday, hitting $32.53. The company had a trading volume of 597,720 shares, compared to its average volume of 2,527,280. The company has a market capitalization of $57.22 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 1.15 and a beta of 1.08. Manulife Financial Co. has a one year low of $18.56 and a one year high of $32.94. The company's fifty day moving average price is $29.39 and its two-hundred day moving average price is $27.11.

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 EPS for the quarter, topping the consensus estimate of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The firm had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same period in the previous year, the company posted $0.69 EPS. Analysts forecast that Manulife Financial Co. will post 2.75 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be given a dividend of $0.296 per share. This is a positive change from Manulife Financial's previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a yield of 3.64%. The ex-dividend date is Wednesday, November 20th. Manulife Financial's dividend payout ratio is currently 56.04%.

Analyst Ratings Changes

MFC has been the subject of several research reports. Dbs Bank upgraded Manulife Financial to a "strong-buy" rating in a report on Thursday, August 8th. Barclays initiated coverage on Manulife Financial in a report on Thursday, September 5th. They issued 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $37.50.

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.