Manulife Financial Co. (NYSE:MFC) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC trimmed its position in shares of 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 SEC. The fund owned 345,538 shares of the financial services provider's stock after selling 32,267 shares during the quarter. Natixis Advisors LLC's holdings in Manulife Financial were worth $10,611,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Crews Bank & Trust purchased a new stake in shares of Manulife Financial during the fourth quarter valued at about $26,000. Brooklyn Investment Group purchased a new stake in shares of Manulife Financial during the third quarter valued at about $26,000. Stonebridge Financial Group LLC purchased a new stake in shares of Manulife Financial during the fourth quarter valued at about $34,000. Golden State Wealth Management LLC purchased a new stake in shares of Manulife Financial during the fourth quarter valued at about $35,000. Finally, CKW Financial Group purchased a new stake in shares of Manulife Financial during the fourth quarter valued at about $37,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MFC. Royal Bank of Canada increased their price objective 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. Scotiabank reaffirmed 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 MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $45.50.

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Manulife Financial Stock Down 0.3 %

Shares of NYSE MFC traded down $0.09 during midday trading on Friday, reaching $30.45. 2,165,880 shares of the stock were exchanged, compared to its average volume of 1,952,637. The firm has a market cap of $52.45 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a twelve month low of $22.61 and a twelve month high of $33.07. The firm has a 50-day simple moving average of $30.05 and a two-hundred day simple moving average of $30.29.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings data 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 company 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%. Research analysts expect that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.3094 per share. This represents a $1.24 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend was Wednesday, March 5th. This is a positive change from Manulife Financial's previous quarterly dividend of $0.30. Manulife Financial's payout ratio is currently 58.45%.

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.