Lincluden Management Ltd. Sells 42,788 Shares of Manulife Financial Co. (NYSE:MFC)

Lincluden Management Ltd. lowered its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 3.1% during the third quarter, Holdings Channel.com reports. The fund owned 1,347,743 shares of the financial services provider’s stock after selling 42,788 shares during the quarter. Manulife Financial accounts for 4.3% of Lincluden Management Ltd.’s holdings, making the stock its 8th largest holding. Lincluden Management Ltd.’s holdings in Manulife Financial were worth $39,856,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Grove Bank & Trust acquired a new stake in Manulife Financial during the 2nd quarter worth approximately $25,000. West Financial Advisors LLC acquired a new stake in shares of Manulife Financial in the third quarter worth $26,000. Addison Advisors LLC lifted its holdings in shares of Manulife Financial by 77.2% during the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 467 shares in the last quarter. HHM Wealth Advisors LLC increased its holdings in Manulife Financial by 119.0% in the 2nd quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 600 shares in the last quarter. Finally, Sachetta LLC lifted its stake in shares of Manulife Financial by 209.5% during the second quarter. Sachetta LLC now owns 1,170 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 792 shares in the last quarter. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Barclays began 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 issued a strong buy rating to the company’s stock. According to MarketBeat, Manulife Financial presently has a consensus rating of “Buy” and a consensus target price of $35.67.

Manulife Financial Trading Down 2.5 %

Shares of MFC opened at $29.21 on Friday. Manulife Financial Co. has a 52 week low of $17.31 and a 52 week high of $30.86. The firm has a market cap of $51.38 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 1.09 and a beta of 1.08. The stock has a 50 day moving average of $28.98 and a 200-day moving average of $26.74.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.27. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. The business had revenue of $9.41 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same period in the prior year, the company posted $0.62 EPS. On average, sell-side analysts predict that Manulife Financial Co. will post 2.74 earnings per share for the current fiscal year.

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 21st were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend was Wednesday, August 21st. Manulife Financial’s dividend payout ratio is currently 67.05%.

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.