Manulife Financial Co. (NYSE:MFC) Shares Sold by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC trimmed its holdings in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 10.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,850,803 shares of the financial services provider's stock after selling 467,553 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned 0.22% of Manulife Financial worth $118,247,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MFC. Crews Bank & Trust acquired a new stake in shares of Manulife Financial during the fourth quarter worth approximately $26,000. Lee Danner & Bass Inc. bought a new position in Manulife Financial during the 4th quarter valued at $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Manulife Financial in the 4th quarter worth about $34,000. Golden State Wealth Management LLC acquired a new stake in shares of Manulife Financial in the 4th quarter valued at about $35,000. Finally, CKW Financial Group bought a new position in shares of Manulife Financial during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 52.56% of the company's stock.

Manulife Financial Trading Down 5.8 %

NYSE MFC traded down $1.70 during trading hours on Thursday, reaching $27.44. The company's stock had a trading volume of 2,242,026 shares, compared to its average volume of 2,259,452. The business has a 50-day simple moving average of $29.92 and a 200 day simple moving average of $30.48. Manulife Financial Co. has a 52 week low of $22.61 and a 52 week high of $33.07. The stock has a market cap of $47.26 billion, a PE ratio of 13.25, a PEG ratio of 1.11 and a beta of 0.89.

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Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, topping 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 business had revenue of $9.31 billion for the quarter. As a group, equities analysts predict that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a $0.3094 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 4.51%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, March 5th. Manulife Financial's dividend payout ratio is 58.45%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MFC. Scotiabank reissued an "outperform" rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada upped 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. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Manulife Financial currently has an average rating of "Buy" and an average price target of $45.50.

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.