Principal Financial Group Inc. Cuts Holdings in Manulife Financial Co. (NYSE:MFC)

Principal Financial Group Inc. lowered its stake in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 53.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,500 shares of the financial services provider's stock after selling 75,900 shares during the period. Principal Financial Group Inc.'s holdings in Manulife Financial were worth $1,938,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. West Financial Advisors LLC purchased a new stake in Manulife Financial during the third quarter valued at about $26,000. Brooklyn Investment Group purchased a new stake in shares of Manulife Financial during the 3rd quarter valued at approximately $26,000. HHM Wealth Advisors LLC boosted its holdings in Manulife Financial by 119.0% in the 2nd quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider's stock worth $29,000 after buying an additional 600 shares during the period. Addison Advisors LLC grew its stake in Manulife Financial by 77.2% in the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider's stock valued at $29,000 after buying an additional 467 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Manulife Financial during the third quarter worth $30,000. Institutional investors own 52.56% of the company's stock.

Manulife Financial Price Performance

Shares of Manulife Financial stock traded up $0.15 during trading hours on Friday, reaching $30.67. The company had a trading volume of 824,484 shares, compared to its average volume of 848,792. The business has a fifty day simple moving average of $31.32 and a 200 day simple moving average of $28.79. The firm has a market cap of $53.40 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09. Manulife Financial Co. has a one year low of $20.78 and a one year high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.70 by $0.30. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The company had revenue of $10.69 billion during the quarter, compared to analysts' expectations of $9.73 billion. During the same quarter in the previous year, the company earned $0.69 earnings per share. On average, research analysts forecast that Manulife Financial Co. will post 2.72 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, November 20th were given a $0.296 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date was Wednesday, November 20th. This is an increase from Manulife Financial's previous quarterly dividend of $0.29. Manulife Financial's dividend payout ratio (DPR) is 57.00%.

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.