Rathbones Group PLC Reduces Position in Manulife Financial Co. (NYSE:MFC)

Rathbones Group PLC trimmed its position in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 8.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 109,200 shares of the financial services provider's stock after selling 10,200 shares during the period. Rathbones Group PLC's holdings in Manulife Financial were worth $3,353,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Franklin Resources Inc. boosted its position in shares of Manulife Financial by 16.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider's stock worth $61,426,000 after purchasing an additional 279,418 shares in the last quarter. Sanctuary Advisors LLC grew its stake in shares of Manulife Financial by 148.9% during the third quarter. Sanctuary Advisors LLC now owns 73,346 shares of the financial services provider's stock worth $2,382,000 after acquiring an additional 43,877 shares during the last quarter. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Manulife Financial during the fourth quarter valued at about $330,000. AEGON ASSET MANAGEMENT UK Plc raised its position in shares of Manulife Financial by 14.9% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 88,631 shares of the financial services provider's stock valued at $2,719,000 after purchasing an additional 11,509 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Manulife Financial by 28.7% during the 4th quarter. Geode Capital Management LLC now owns 10,650,598 shares of the financial services provider's stock worth $333,291,000 after purchasing an additional 2,377,338 shares during the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MFC shares. Royal Bank of Canada raised their target price on Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. Scotiabank restated an "outperform" rating on shares of Manulife Financial in a research report on Monday, February 3rd. One investment 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 data from MarketBeat.com, Manulife Financial has an average rating of "Buy" and an average price target of $45.50.

Manulife Financial Price Performance

MFC traded up $0.74 during trading hours on Friday, reaching $28.04. The company's stock had a trading volume of 4,106,230 shares, compared to its average volume of 2,244,397. The stock has a market cap of $48.18 billion, a PE ratio of 13.54, a P/E/G ratio of 1.11 and a beta of 0.89. Manulife Financial Co. has a fifty-two week low of $22.61 and a fifty-two week high of $33.07. The business's 50-day moving average is $29.85 and its 200-day moving average is $30.46.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.67 by $0.07. The business had revenue of $9.31 billion for the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. Analysts expect that Manulife Financial Co. will post 2.87 EPS for the current 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 is a positive change from Manulife Financial's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 4.41%. The ex-dividend date was Wednesday, March 5th. Manulife Financial's dividend payout ratio is currently 58.45%.

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.