Manulife Financial Co. (NYSE:MFC) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust cut its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,055 shares of the financial services provider’s stock after selling 401 shares during the quarter. FineMark National Bank & Trust’s holdings in Manulife Financial were worth $677,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TD Asset Management Inc. boosted its holdings in shares of Manulife Financial by 0.7% in the fourth quarter. TD Asset Management Inc. now owns 34,803,859 shares of the financial services provider’s stock valued at $1,068,654,000 after acquiring an additional 228,863 shares in the last quarter. Prudential Financial Inc. lifted its position in Manulife Financial by 60.4% in the fourth quarter. Prudential Financial Inc. now owns 36,200 shares of the financial services provider’s stock valued at $1,112,000 after purchasing an additional 13,638 shares during the period. Napatree Capital LLC boosted its holdings in Manulife Financial by 5.8% in the 4th quarter. Napatree Capital LLC now owns 9,814 shares of the financial services provider’s stock valued at $301,000 after purchasing an additional 536 shares in the last quarter. Guardian Partners Inc. acquired a new position in Manulife Financial during the 4th quarter worth approximately $5,893,000. Finally, Hillsdale Investment Management Inc. lifted its holdings in shares of Manulife Financial by 216.0% in the 4th quarter. Hillsdale Investment Management Inc. now owns 2,545,393 shares of the financial services provider’s stock valued at $78,110,000 after buying an additional 1,739,853 shares during the period. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Manulife Financial Price Performance

NYSE MFC opened at $31.43 on Wednesday. The business has a 50 day moving average price of $30.12 and a 200 day moving average price of $30.37. The company has a market capitalization of $54.14 billion, a P/E ratio of 15.18, a PEG ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a 1-year low of $22.61 and a 1-year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (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 return on equity of 15.98% and a net margin of 10.08%. On average, research analysts expect that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.3094 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.94%. The ex-dividend date was Wednesday, March 5th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s dividend payout ratio is 58.45%.

Analyst Ratings Changes

A number of brokerages recently weighed in on MFC. Royal Bank of Canada upped their price objective on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price 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.