Manulife Financial Co. (NYSE:MFC) Shares Sold by Ninepoint Partners LP

Ninepoint Partners LP lessened its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 15.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,373 shares of the financial services provider's stock after selling 18,145 shares during the quarter. Manulife Financial accounts for about 0.4% of Ninepoint Partners LP's holdings, making the stock its 20th biggest position. Ninepoint Partners LP's holdings in Manulife Financial were worth $2,990,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in MFC. Brooklyn Investment Group purchased a new stake in Manulife Financial in the 3rd quarter valued at approximately $26,000. Crews Bank & Trust purchased a new stake in Manulife Financial in the 4th quarter valued at approximately $26,000. Stonebridge Financial Group LLC purchased a new stake in Manulife Financial in the 4th quarter valued at approximately $34,000. Golden State Wealth Management LLC purchased a new stake in Manulife Financial in the 4th quarter valued at approximately $35,000. Finally, CKW Financial Group purchased a new stake in Manulife Financial in the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 52.56% of the company's stock.

Manulife Financial Price Performance

Shares of MFC stock traded up $0.05 during midday trading on Thursday, reaching $30.53. 1,289,115 shares of the company traded hands, compared to its average volume of 1,960,834. The firm's 50 day simple moving average is $30.04 and its two-hundred day simple moving average is $30.25. Manulife Financial Co. has a 1-year low of $22.61 and a 1-year high of $33.07. The firm has a market cap of $52.60 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05.

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Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.07. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The company had revenue of $9.31 billion during the quarter. As a group, research analysts anticipate that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.3094 per share. This is an increase from Manulife Financial's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 4.05%. The ex-dividend date was Wednesday, March 5th. Manulife Financial's payout ratio is currently 58.45%.

Analysts Set New Price Targets

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

About Manulife Financial

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.