Manulife Financial Co. (NYSE:MFC) Position Lowered by Gold Investment Management Ltd.

Gold Investment Management Ltd. lowered its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 9.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 181,177 shares of the financial services provider's stock after selling 17,837 shares during the quarter. Manulife Financial comprises 2.2% of Gold Investment Management Ltd.'s investment portfolio, making the stock its 9th biggest holding. Gold Investment Management Ltd.'s holdings in Manulife Financial were worth $5,354,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MFC. West Financial Advisors LLC purchased a new position in Manulife Financial during the 3rd quarter worth approximately $26,000. Grove Bank & Trust purchased a new stake in shares of Manulife Financial in the second quarter valued at approximately $25,000. Fortitude Family Office LLC acquired a new stake in Manulife Financial in the third quarter valued at $31,000. Addison Advisors LLC raised its position in Manulife Financial by 77.2% during the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider's stock worth $29,000 after acquiring an additional 467 shares during the last quarter. Finally, HHM Wealth Advisors LLC lifted its holdings in shares of Manulife Financial by 119.0% in the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Barclays started coverage on Manulife Financial in a research report on Thursday, September 5th. They set an "equal weight" rating for the company. Dbs Bank raised Manulife Financial to a "strong-buy" rating in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Manulife Financial presently has a consensus rating of "Buy" and an average target price of $35.67.

Manulife Financial Price Performance

MFC stock traded down $0.49 during midday trading on Friday, hitting $31.80. The stock had a trading volume of 1,458,018 shares, compared to its average volume of 2,536,172. Manulife Financial Co. has a 12-month low of $18.42 and a 12-month high of $32.94. The firm has a market cap of $55.93 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 1.08 and a beta of 1.08. The company's 50-day moving average price is $29.21 and its 200 day moving average price is $26.96.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its earnings results on Wednesday, August 7th. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.64 by $0.27. The firm had revenue of $9.41 billion during the quarter, compared to analyst estimates of $8.95 billion. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. During the same period in the prior year, the firm posted $0.62 earnings per share. As a group, sell-side analysts anticipate that Manulife Financial Co. will post 2.74 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be issued a $0.296 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 3.72%. This is an increase from Manulife Financial's previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, November 20th. Manulife Financial's payout ratio is presently 67.05%.

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.