Cyndeo Wealth Partners LLC Has $391,000 Stake in Manulife Financial Co. (NYSE:MFC)

Cyndeo Wealth Partners LLC decreased its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 94.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,248 shares of the financial services provider's stock after selling 229,725 shares during the quarter. Cyndeo Wealth Partners LLC's holdings in Manulife Financial were worth $391,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Blue Trust Inc. increased its stake in Manulife Financial by 78.7% in the 3rd quarter. Blue Trust Inc. now owns 22,903 shares of the financial services provider's stock worth $677,000 after purchasing an additional 10,083 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. raised its holdings in shares of Manulife Financial by 8.0% during the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 550,226 shares of the financial services provider's stock valued at $16,279,000 after acquiring an additional 40,748 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Manulife Financial by 3.1% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 30,773 shares of the financial services provider's stock valued at $909,000 after purchasing an additional 931 shares during the period. Sumitomo Life Insurance Co. lifted its holdings in shares of Manulife Financial by 3.1% in the third quarter. Sumitomo Life Insurance Co. now owns 30,773 shares of the financial services provider's stock valued at $909,000 after purchasing an additional 931 shares in the last quarter. Finally, Tsfg LLC boosted its position in shares of Manulife Financial by 103.8% in the third quarter. Tsfg LLC now owns 1,404 shares of the financial services provider's stock worth $42,000 after buying an additional 715 shares during the period. Institutional investors own 52.56% of the company's stock.

Analyst Ratings Changes

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

Manulife Financial Stock Performance

Shares of Manulife Financial stock traded up $0.05 during trading on Tuesday, hitting $30.09. 1,306,063 shares of the stock traded hands, compared to its average volume of 2,602,065. The company has a fifty day moving average price of $28.45 and a two-hundred day moving average price of $26.49. Manulife Financial Co. has a twelve month low of $17.07 and a twelve month high of $30.86. The stock has a market cap of $53.85 billion, a P/E ratio of 17.49, a PEG ratio of 1.09 and a beta of 1.08.

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

Manulife Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.86%. The ex-dividend date was Wednesday, August 21st. Manulife Financial's payout ratio is 66.86%.

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.