Manulife Financial Co. (NYSE:MFC) Shares Sold by Prudential PLC

Prudential PLC lowered its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 28.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,955 shares of the financial services provider's stock after selling 18,179 shares during the period. Prudential PLC's holdings in Manulife Financial were worth $1,410,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Crews Bank & Trust purchased a new stake in Manulife Financial in the 4th quarter valued at about $26,000. Lee Danner & Bass Inc. acquired a new stake in shares of Manulife Financial in the fourth quarter worth approximately $31,000. Stonebridge Financial Group LLC purchased a new stake in Manulife Financial in the fourth quarter valued at approximately $34,000. Golden State Wealth Management LLC acquired a new position in Manulife Financial during the fourth quarter worth approximately $35,000. Finally, CKW Financial Group purchased a new position in Manulife Financial during the fourth quarter worth approximately $37,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Stock Performance

Shares of NYSE:MFC traded up $0.25 during midday trading on Friday, hitting $27.55. 829,451 shares of the company's stock traded hands, compared to its average volume of 2,259,185. Manulife Financial Co. has a twelve month low of $22.61 and a twelve month high of $33.07. The company has a market cap of $47.46 billion, a PE ratio of 13.32, a P/E/G ratio of 1.11 and a beta of 0.89. The firm's fifty day moving average price is $29.88 and its two-hundred day moving average price is $30.46.

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Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.07. The company had revenue of $9.31 billion during the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. As a group, equities research analysts anticipate that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.3094 dividend. The ex-dividend date was Wednesday, March 5th. This is an increase from Manulife Financial's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 4.49%. Manulife Financial's dividend payout ratio is 58.45%.

Analyst Upgrades and Downgrades

MFC has been the subject of several research reports. Scotiabank reissued an "outperform" rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada upped their price target on Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $45.50.

About Manulife Financial

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.