Manulife Financial Co. (NYSE:MFC) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lessened its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 12.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,825,398 shares of the financial services provider's stock after selling 945,283 shares during the quarter. Dimensional Fund Advisors LP owned about 0.40% of Manulife Financial worth $209,607,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Crews Bank & Trust acquired a new stake in shares of Manulife Financial in the fourth quarter worth $26,000. Lee Danner & Bass Inc. acquired a new stake in Manulife Financial during the 4th quarter worth about $31,000. Stonebridge Financial Group LLC purchased a new position in shares of Manulife Financial during the 4th quarter valued at about $34,000. Golden State Wealth Management LLC purchased a new position in shares of Manulife Financial during the 4th quarter valued at about $35,000. Finally, CKW Financial Group acquired a new position in shares of Manulife Financial in the 4th quarter valued at about $37,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Trading Up 2.8 %

NYSE MFC opened at $29.21 on Wednesday. The stock has a market capitalization of $50.18 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 1.11 and a beta of 0.89. The stock has a 50-day moving average of $29.70 and a 200 day moving average of $30.41. Manulife Financial Co. has a twelve month low of $22.96 and a twelve month high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its earnings results 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 during the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. Equities analysts predict that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.3094 dividend. This represents a $1.24 annualized dividend and a dividend yield of 4.24%. 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 (DPR) is 58.45%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MFC shares. Royal Bank of Canada lifted their price target on Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Scotiabank reaffirmed an "outperform" rating on shares of Manulife Financial in a research note on Monday, February 3rd. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Manulife Financial has an average rating of "Buy" and a consensus price target of $45.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.