Manulife Financial Co. (NYSE:MFC) Position Reduced by Galibier Capital Management Ltd.

Galibier Capital Management Ltd. lessened its position in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 12.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 781,573 shares of the financial services provider's stock after selling 113,829 shares during the quarter. Manulife Financial comprises 6.9% of Galibier Capital Management Ltd.'s portfolio, making the stock its 7th biggest holding. Galibier Capital Management Ltd.'s holdings in Manulife Financial were worth $23,998,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Brooklyn Investment Group grew its holdings in shares of Manulife Financial by 78.1% in the fourth quarter. Brooklyn Investment Group now owns 1,537 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 674 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of Manulife Financial in the 4th quarter worth $212,000. Wealthcare Advisory Partners LLC bought a new stake in shares of Manulife Financial in the 4th quarter worth about $208,000. Avanza Fonder AB purchased a new stake in shares of Manulife Financial during the 4th quarter valued at about $3,410,000. Finally, Dixon Mitchell Investment Counsel Inc. raised its position in shares of Manulife Financial by 1.8% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 559,985 shares of the financial services provider's stock valued at $17,194,000 after buying an additional 9,759 shares in the last quarter. Institutional investors own 52.56% of the company's stock.

Manulife Financial Stock Down 0.8 %

MFC traded down $0.26 on Friday, hitting $30.58. The company had a trading volume of 1,430,420 shares, compared to its average volume of 1,355,940. The business's fifty day simple moving average is $31.32 and its 200 day simple moving average is $29.11. Manulife Financial Co. has a 12-month low of $20.78 and a 12-month high of $33.07. The company has a market cap of $52.86 billion, a PE ratio of 14.77, a PEG ratio of 1.01 and a beta of 1.09.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.30. The firm had revenue of $10.69 billion for the quarter, compared to the consensus estimate of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same quarter in the previous year, the company posted $0.69 EPS. On average, analysts anticipate that Manulife Financial Co. will post 2.71 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently declared 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. The ex-dividend date was Wednesday, November 20th. This is a boost from Manulife Financial's previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.87%. Manulife Financial's payout ratio is currently 59.42%.

Manulife Financial 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.