Van ECK Associates Corp Sells 9,729 Shares of Manulife Financial Co. (NYSE:MFC)

Van ECK Associates Corp decreased its position in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 2.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 334,007 shares of the financial services provider's stock after selling 9,729 shares during the period. Van ECK Associates Corp's holdings in Manulife Financial were worth $10,254,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in MFC. Allspring Global Investments Holdings LLC boosted its holdings in Manulife Financial by 21.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 420,650 shares of the financial services provider's stock valued at $12,838,000 after acquiring an additional 74,817 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in Manulife Financial in the fourth quarter valued at $34,000. Savant Capital LLC boosted its holdings in Manulife Financial by 7.9% in the fourth quarter. Savant Capital LLC now owns 18,139 shares of the financial services provider's stock valued at $557,000 after acquiring an additional 1,330 shares in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in Manulife Financial by 7.7% in the fourth quarter. Kestra Private Wealth Services LLC now owns 77,863 shares of the financial services provider's stock valued at $2,391,000 after acquiring an additional 5,554 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in Manulife Financial in the fourth quarter valued at $1,459,000. Institutional investors own 52.56% of the company's stock.

Manulife Financial Price Performance

NYSE:MFC traded up $2.05 during trading hours on Thursday, hitting $31.83. The company had a trading volume of 4,449,872 shares, compared to its average volume of 2,018,488. The company has a market capitalization of $54.84 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.04 and a beta of 1.09. The stock has a 50-day moving average price of $30.31 and a 200 day moving average price of $29.70. Manulife Financial Co. has a 52 week low of $22.61 and a 52 week high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.67 by $0.07. The business had revenue of $9.31 billion during the quarter. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. Analysts anticipate that Manulife Financial Co. will post 2.65 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.3094 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.24 annualized dividend and a yield of 3.89%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.30. Manulife Financial's dividend payout ratio (DPR) is currently 59.42%.

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.