Manulife Financial Co. (NYSE:MFC) Shares Sold by Lincluden Management Ltd.

Lincluden Management Ltd. cut its stake in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,347,743 shares of the financial services provider's stock after selling 42,788 shares during the quarter. Manulife Financial makes up approximately 4.3% of Lincluden Management Ltd.'s holdings, making the stock its 8th biggest holding. Lincluden Management Ltd. owned about 0.08% of Manulife Financial worth $39,856,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Grove Bank & Trust purchased a new position in Manulife Financial during the second quarter valued at approximately $25,000. West Financial Advisors LLC purchased a new position in Manulife Financial during the third quarter valued at approximately $26,000. Addison Advisors LLC increased its holdings in Manulife Financial by 77.2% during the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider's stock valued at $29,000 after buying an additional 467 shares during the period. HHM Wealth Advisors LLC boosted its stake in Manulife Financial by 119.0% in the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 600 shares in the last quarter. Finally, Sachetta LLC boosted its stake in Manulife Financial by 209.5% in the second quarter. Sachetta LLC now owns 1,170 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 792 shares in the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Price Performance

MFC stock traded up $0.25 during midday trading on Friday, hitting $29.47. The stock had a trading volume of 1,107,283 shares, compared to its average volume of 2,553,832. The firm has a market cap of $51.83 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 1.09 and a beta of 1.08. The company's 50-day moving average price is $28.98 and its 200 day moving average price is $26.74. Manulife Financial Co. has a 12-month low of $18.00 and a 12-month high of $30.86.

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

Manulife Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 21st were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend was Wednesday, August 21st. Manulife Financial's dividend payout ratio is presently 66.47%.

Analyst Upgrades and Downgrades

MFC has been the subject of several research reports. Dbs Bank upgraded shares of Manulife Financial to a "strong-buy" rating in a research note on Thursday, August 8th. Barclays started coverage on shares of Manulife Financial in a report on Thursday, September 5th. They issued an "equal weight" rating on the stock. One equities 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $35.67.

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.