Fifth Third Bancorp Has $3.48 Million Stock Position in Manulife Financial Co. (NYSE:MFC)

Fifth Third Bancorp lessened its position in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 27.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,352 shares of the financial services provider's stock after selling 43,158 shares during the period. Fifth Third Bancorp's holdings in Manulife Financial were worth $3,481,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. West Financial Advisors LLC acquired a new position in Manulife Financial during the third quarter worth approximately $26,000. Brooklyn Investment Group acquired a new stake in shares of Manulife Financial during the 3rd quarter worth $26,000. Capital Performance Advisors LLP purchased a new position in shares of Manulife Financial in the 3rd quarter worth $30,000. Fortitude Family Office LLC acquired a new position in Manulife Financial in the third quarter valued at $31,000. Finally, Tsfg LLC grew its position in Manulife Financial by 103.8% during the third quarter. Tsfg LLC now owns 1,404 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 715 shares during the period. Institutional investors and hedge funds own 52.56% of the company's stock.

Manulife Financial Price Performance

MFC stock traded down $0.18 during midday trading on Tuesday, reaching $30.18. 1,942,947 shares of the company's stock traded hands, compared to its average volume of 1,707,456. Manulife Financial Co. has a fifty-two week low of $21.54 and a fifty-two week high of $33.07. The business has a 50-day moving average price of $31.08 and a two-hundred day moving average price of $29.28. The company has a market capitalization of $52.16 billion, a P/E ratio of 14.58, a PEG ratio of 1.05 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.30. The company had revenue of $10.69 billion for the quarter, compared to analyst estimates of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same period in the prior year, the company posted $0.69 EPS. As a group, research analysts forecast that Manulife Financial Co. will post 2.69 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, November 20th were paid a dividend of $0.296 per share. This is an increase from Manulife Financial's previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend was Wednesday, November 20th. Manulife Financial's dividend payout ratio is presently 59.42%.

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.