Cardinal Capital Management Inc. Cuts Stake in Manulife Financial Co. (NYSE:MFC)

Cardinal Capital Management Inc. lessened its stake in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,054,027 shares of the financial services provider's stock after selling 43,340 shares during the quarter. Manulife Financial accounts for about 6.2% of Cardinal Capital Management Inc.'s holdings, making the stock its biggest position. Cardinal Capital Management Inc. owned approximately 0.28% of Manulife Financial worth $149,547,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Yousif Capital Management LLC increased its position in Manulife Financial by 1.5% during the first quarter. Yousif Capital Management LLC now owns 30,377 shares of the financial services provider's stock worth $759,000 after buying an additional 460 shares during the last quarter. Indiana Trust & Investment Management CO raised its stake in shares of Manulife Financial by 22.2% in the 2nd quarter. Indiana Trust & Investment Management CO now owns 2,540 shares of the financial services provider's stock valued at $68,000 after acquiring an additional 462 shares in the last quarter. Addison Advisors LLC lifted its holdings 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 worth $29,000 after purchasing an additional 467 shares during the last quarter. First Affirmative Financial Network boosted its position in Manulife Financial by 4.5% during the first quarter. First Affirmative Financial Network now owns 11,086 shares of the financial services provider's stock worth $277,000 after purchasing an additional 482 shares during the period. Finally, Bruce G. Allen Investments LLC grew its holdings in Manulife Financial by 73.6% during the first quarter. Bruce G. Allen Investments LLC now owns 1,156 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 490 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MFC. TD Securities upped their price objective on shares of Manulife Financial from $38.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, June 28th. Barclays assumed coverage on shares of Manulife Financial in a report on Thursday, September 5th. They set an "equal weight" rating for the company. Finally, Dbs Bank upgraded Manulife Financial to a "strong-buy" rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Manulife Financial has a consensus rating of "Buy" and a consensus price target of $35.67.

Manulife Financial Trading Up 1.0 %

MFC stock traded up $0.30 during trading on Friday, reaching $30.39. 1,006,465 shares of the stock were exchanged, compared to its average volume of 2,653,510. The stock has a 50 day simple moving average of $27.66 and a 200-day simple moving average of $26.19. The company has a market capitalization of $54.39 billion, a P/E ratio of 17.67, a price-to-earnings-growth ratio of 1.09 and a beta of 1.08. Manulife Financial Co. has a twelve month low of $17.07 and a twelve month high of $30.52.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its earnings results on Wednesday, August 7th. The financial services provider reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.27. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. The business had revenue of $9.41 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same period in the prior year, the company posted $0.62 earnings per share. Equities analysts predict that Manulife Financial Co. will post 2.73 EPS for the current year.

Manulife Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date was Wednesday, August 21st. Manulife Financial's dividend payout ratio is presently 66.86%.

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.