Crossmark Global Holdings Inc. Has $2.74 Million Stock Position in Manulife Financial Co. (NYSE:MFC)

Crossmark Global Holdings Inc. cut its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 39.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,552 shares of the financial services provider's stock after selling 61,484 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Manulife Financial were worth $2,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Manulife Financial by 1,210.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,161,059 shares of the financial services provider's stock valued at $30,922,000 after buying an additional 1,072,474 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Manulife Financial by 2,913.7% in the first quarter. Bessemer Group Inc. now owns 86,615 shares of the financial services provider's stock worth $2,163,000 after buying an additional 83,741 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Manulife Financial by 0.5% in the second quarter. Legal & General Group Plc now owns 14,783,400 shares of the financial services provider's stock worth $393,592,000 after acquiring an additional 75,244 shares during the period. Vanguard Group Inc. boosted its holdings in Manulife Financial by 1.0% during the first quarter. Vanguard Group Inc. now owns 72,289,251 shares of the financial services provider's stock worth $1,806,508,000 after buying an additional 727,764 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Manulife Financial during the first quarter valued at approximately $1,705,000. 52.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Dbs Bank raised shares of Manulife Financial to a "strong-buy" rating in a research note on Thursday, August 8th. Barclays started coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They set an "equal weight" rating on the stock. One equities research 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's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $37.50.

Manulife Financial Trading Down 0.2 %

Shares of MFC stock traded down $0.08 during trading hours on Wednesday, reaching $32.44. The company's stock had a trading volume of 1,607,688 shares, compared to its average volume of 2,539,395. The firm's fifty day simple moving average is $29.59 and its 200 day simple moving average is $27.24. The stock has a market capitalization of $57.06 billion, a P/E ratio of 15.67, a P/E/G ratio of 1.19 and a beta of 1.08. Manulife Financial Co. has a one year low of $18.78 and a one year high of $32.94.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.30. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The business had revenue of $10.69 billion for the quarter, compared to the consensus estimate of $9.73 billion. During the same quarter last year, the firm posted $0.69 EPS. As a group, equities research analysts forecast that Manulife Financial Co. will post 2.74 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be paid a $0.296 dividend. This is a boost from Manulife Financial's previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, November 20th. This represents a $1.18 annualized dividend and a dividend yield of 3.65%. Manulife Financial's dividend payout ratio (DPR) is 57.00%.

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.