Wambolt & Associates LLC Sells 8,933 Shares of Manulife Financial Co. (NYSE:MFC)

Wambolt & Associates LLC trimmed its holdings in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 8.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 91,458 shares of the financial services provider's stock after selling 8,933 shares during the period. Wambolt & Associates LLC's holdings in Manulife Financial were worth $2,809,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Franklin Resources Inc. increased its holdings in shares of Manulife Financial by 16.4% during the third quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider's stock valued at $61,426,000 after acquiring an additional 279,418 shares in the last quarter. Sanctuary Advisors LLC increased its stake in Manulife Financial by 148.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 73,346 shares of the financial services provider's stock valued at $2,382,000 after purchasing an additional 43,877 shares in the last quarter. Dorsey & Whitney Trust CO LLC purchased a new position in Manulife Financial in the fourth quarter worth about $330,000. AEGON ASSET MANAGEMENT UK Plc lifted its stake in shares of Manulife Financial by 14.9% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 88,631 shares of the financial services provider's stock worth $2,719,000 after buying an additional 11,509 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Manulife Financial by 4.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,809,774 shares of the financial services provider's stock valued at $55,578,000 after buying an additional 81,799 shares during the last quarter. Hedge funds and other institutional investors own 52.56% of the company's stock.

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Manulife Financial Stock Performance

Shares of MFC traded down $0.35 during mid-day trading on Friday, hitting $30.77. 2,343,501 shares of the company traded hands, compared to its average volume of 2,211,257. The stock has a market cap of $53.01 billion, a price-to-earnings ratio of 14.87, a P/E/G ratio of 1.11 and a beta of 1.05. The stock has a 50-day moving average price of $30.14 and a two-hundred day moving average price of $30.42. Manulife Financial Co. has a 1 year low of $22.61 and a 1 year high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, beating 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%. On average, analysts forecast that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid 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 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend was Wednesday, March 5th. Manulife Financial's payout ratio is currently 58.45%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Scotiabank restated an "outperform" rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada boosted their price target on Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average 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.