Moors & Cabot Inc. Sells 900 Shares of Manulife Financial Co. (NYSE:MFC)

Moors & Cabot Inc. cut its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 49,905 shares of the financial services provider’s stock after selling 900 shares during the period. Moors & Cabot Inc.’s holdings in Manulife Financial were worth $1,475,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Grove Bank & Trust purchased a new position in shares of Manulife Financial in the second quarter valued at $25,000. West Financial Advisors LLC bought a new stake in Manulife Financial during the 3rd quarter valued at $26,000. Addison Advisors LLC grew its stake in Manulife Financial by 77.2% in the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 467 shares during the last quarter. HHM Wealth Advisors LLC raised its stake in shares of Manulife Financial by 119.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 600 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Manulife Financial during the 3rd quarter valued at $30,000. 52.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Barclays began coverage on 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 assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $37.50.

Manulife Financial Price Performance

Shares of NYSE:MFC opened at $32.68 on Friday. The company’s fifty day moving average price is $30.29 and its 200 day moving average price is $27.62. The firm has a market capitalization of $57.25 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.19 and a beta of 1.08. Manulife Financial Co. has a 12 month low of $18.91 and a 12 month high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.30. The business had revenue of $10.69 billion for the quarter, compared to analyst estimates of $9.73 billion. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. During the same period in the previous year, the business posted $0.69 earnings per share. On average, sell-side analysts anticipate that Manulife Financial Co. will post 2.74 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be given a $0.296 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Wednesday, November 20th. Manulife Financial’s dividend payout ratio is currently 56.04%.

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.