Burke & Herbert Bank & Trust Co. Sells 20,010 Shares of Manulife Financial Co. (NYSE:MFC)

Burke & Herbert Bank & Trust Co. trimmed its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 60.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,139 shares of the financial services provider's stock after selling 20,010 shares during the quarter. Burke & Herbert Bank & Trust Co.'s holdings in Manulife Financial were worth $388,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its holdings in shares of Manulife Financial by 12.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 58,804 shares of the financial services provider's stock worth $1,740,000 after acquiring an additional 6,410 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Manulife Financial during the 3rd quarter worth about $956,000. Greenleaf Trust lifted its stake in Manulife Financial by 19.3% during the third quarter. Greenleaf Trust now owns 9,889 shares of the financial services provider's stock valued at $292,000 after buying an additional 1,598 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Manulife Financial by 1.2% in the third quarter. Private Advisor Group LLC now owns 69,436 shares of the financial services provider's stock worth $2,052,000 after buying an additional 839 shares during the period. Finally, Stanley Laman Group Ltd. purchased a new position in shares of Manulife Financial in the third quarter worth approximately $218,000. Institutional investors own 52.56% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Dbs Bank upgraded shares of Manulife Financial to a "strong-buy" rating in a research report on Thursday, August 8th. TD Securities upped their price target on Manulife Financial from $38.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, June 28th. Finally, Barclays began coverage on Manulife Financial in a research report on Thursday, September 5th. They set an "equal weight" rating for the company. One equities research 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 company. Based on data from MarketBeat.com, Manulife Financial has an average rating of "Buy" and an average price target of $35.67.

Manulife Financial Trading Down 0.6 %

NYSE MFC traded down $0.18 on Friday, reaching $29.80. The stock had a trading volume of 954,351 shares, compared to its average volume of 2,578,340. Manulife Financial Co. has a 1 year low of $17.07 and a 1 year high of $30.86. The business has a 50 day moving average price of $28.61 and a 200 day moving average price of $26.53. The company has a market capitalization of $52.41 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 1.10 and a beta of 1.08.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.27. The firm had revenue of $9.41 billion for the quarter, compared to the consensus estimate of $8.95 billion. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. During the same quarter in the prior year, the company posted $0.62 earnings per share. On average, analysts anticipate that Manulife Financial Co. will post 2.74 earnings per share for the current fiscal year.

Manulife Financial Dividend Announcement

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 3.89%. The ex-dividend date was Wednesday, August 21st. Manulife Financial's payout ratio is 67.05%.

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.