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

UniSuper Management Pty Ltd reduced its stake in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 72.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,700 shares of the financial services provider's stock after selling 86,510 shares during the period. UniSuper Management Pty Ltd's holdings in Manulife Financial were worth $1,035,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Crews Bank & Trust bought a new stake in Manulife Financial in the fourth quarter valued at about $26,000. Lee Danner & Bass Inc. acquired a new position in shares of Manulife Financial in the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Manulife Financial in the 4th quarter valued at approximately $34,000. Golden State Wealth Management LLC bought a new stake in shares of Manulife Financial in the 4th quarter valued at approximately $35,000. Finally, CKW Financial Group acquired a new stake in shares of Manulife Financial during the 4th quarter valued at approximately $37,000. Institutional investors own 52.56% of the company's stock.

Manulife Financial Trading Down 9.3 %

MFC traded down $2.84 during trading on Friday, reaching $27.79. 4,745,407 shares of the company were exchanged, compared to its average volume of 2,222,802. Manulife Financial Co. has a 52 week low of $22.61 and a 52 week high of $33.07. The firm has a 50 day moving average of $30.16 and a 200 day moving average of $30.52. The stock has a market cap of $47.87 billion, a P/E ratio of 13.43, a PEG ratio of 1.11 and a beta of 0.89.

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

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.3094 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.24 annualized dividend and a dividend yield of 4.45%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.30. Manulife Financial's dividend payout ratio (DPR) is presently 58.45%.

Wall Street Analysts Forecast Growth

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

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.