Lord Abbett & CO. LLC cut its holdings in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 12.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,587,814 shares of the financial services provider's stock after selling 528,901 shares during the period. Lord Abbett & CO. LLC owned approximately 0.21% of Manulife Financial worth $110,184,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of MFC. Crews Bank & Trust acquired a new stake in shares of Manulife Financial during the fourth quarter valued at approximately $26,000. Lee Danner & Bass Inc. bought a new stake in Manulife Financial during the fourth quarter worth approximately $31,000. Stonebridge Financial Group LLC acquired a new position in Manulife Financial in the 4th quarter valued at $34,000. Golden State Wealth Management LLC bought a new position in shares of Manulife Financial in the fourth quarter worth about $35,000. Finally, CKW Financial Group acquired a new stake in shares of Manulife Financial in the fourth quarter worth $37,000. Institutional investors and hedge funds own 52.56% of the company's stock.
Analysts Set New Price Targets
A number of research firms 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 stock 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $45.50.
Read Our Latest Stock Report on MFC
Manulife Financial Trading Up 0.2 %
Shares of Manulife Financial stock traded up $0.05 during trading on Friday, reaching $30.26. The stock had a trading volume of 1,078,617 shares, compared to its average volume of 2,238,521. The company has a market capitalization of $52.00 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 1.11 and a beta of 0.89. Manulife Financial Co. has a 52 week low of $23.27 and a 52 week high of $33.07. The stock has a fifty day moving average price of $29.72 and a two-hundred day moving average price of $30.42.
Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.07. The business had revenue of $9.31 billion for the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. On average, equities analysts forecast that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.
Manulife Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.3094 dividend. This represents a $1.24 annualized dividend and a dividend yield of 4.09%. The ex-dividend date was Wednesday, March 5th. This is an increase from Manulife Financial's previous quarterly dividend of $0.30. Manulife Financial's dividend payout ratio is presently 58.45%.
Manulife Financial Company Profile
(
Free Report)
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.
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