Manulife Financial Co. (NYSE:MFC) Stock Holdings Lessened by DORCHESTER WEALTH MANAGEMENT Co

DORCHESTER WEALTH MANAGEMENT Co decreased its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 2.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 466,062 shares of the financial services provider’s stock after selling 9,435 shares during the period. Manulife Financial accounts for about 2.4% of DORCHESTER WEALTH MANAGEMENT Co’s holdings, making the stock its 9th biggest holding. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Manulife Financial were worth $13,671,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Indiana Trust & Investment Management CO lifted its holdings in Manulife Financial by 22.2% in the 2nd quarter. Indiana Trust & Investment Management CO now owns 2,540 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 462 shares in the last quarter. Addison Advisors LLC increased its position 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 worth $29,000 after purchasing an additional 467 shares during the last quarter. LRI Investments LLC grew its position in Manulife Financial by 8.6% in the 2nd quarter. LRI Investments LLC now owns 6,819 shares of the financial services provider’s stock valued at $182,000 after acquiring an additional 542 shares in the last quarter. Janiczek Wealth Management LLC grew its position in Manulife Financial by 36.5% in the 1st quarter. Janiczek Wealth Management LLC now owns 2,088 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 558 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of Manulife Financial by 4.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 14,538 shares of the financial services provider’s stock valued at $363,000 after buying an additional 576 shares during the period. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Price Performance

Manulife Financial stock traded down $0.27 during trading hours on Thursday, hitting $29.75. The stock had a trading volume of 188,253 shares, compared to its average volume of 2,582,168. The stock has a market capitalization of $53.24 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 1.09 and a beta of 1.08. Manulife Financial Co. has a 1-year low of $17.07 and a 1-year high of $30.86. The stock’s fifty day moving average is $28.53 and its two-hundred day moving average is $26.51.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.27. The company had revenue of $9.41 billion for the quarter, compared to analyst estimates of $8.95 billion. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. During the same quarter in the prior year, the company earned $0.62 earnings per share. As a group, sell-side analysts anticipate that Manulife Financial Co. will post 2.73 EPS for the current year.

Manulife Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend was Wednesday, August 21st. Manulife Financial’s dividend payout ratio (DPR) is 66.86%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. TD Securities boosted their price objective on Manulife Financial from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Barclays assumed coverage on Manulife Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating for the company. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $35.67.

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.