Captrust Financial Advisors Trims Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Captrust Financial Advisors decreased its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 5.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,417 shares of the financial services provider’s stock after selling 7,524 shares during the period. Captrust Financial Advisors’ holdings in Manulife Financial were worth $4,061,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Manulife Financial by 1,210.7% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,161,059 shares of the financial services provider’s stock worth $30,922,000 after purchasing an additional 1,072,474 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Manulife Financial by 0.5% in the second quarter. Legal & General Group Plc now owns 14,783,400 shares of the financial services provider’s stock valued at $393,592,000 after acquiring an additional 75,244 shares during the period. Toronto Dominion Bank boosted its position in shares of Manulife Financial by 3.2% in the second quarter. Toronto Dominion Bank now owns 24,057,503 shares of the financial services provider’s stock valued at $640,411,000 after acquiring an additional 750,422 shares during the period. Sumitomo Life Insurance Co. bought a new position in shares of Manulife Financial in the second quarter valued at approximately $794,000. Finally, DRW Securities LLC bought a new position in shares of Manulife Financial in the third quarter valued at approximately $1,008,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Barclays assumed coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating for the company. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Manulife Financial has an average rating of “Buy” and a consensus price target of $37.50.

Manulife Financial Price Performance

Shares of Manulife Financial stock opened at $32.07 on Wednesday. Manulife Financial Co. has a 1 year low of $19.53 and a 1 year high of $33.07. The firm has a market cap of $56.18 billion, a PE ratio of 15.49, a PEG ratio of 1.19 and a beta of 1.09. The company has a 50 day simple moving average of $30.85 and a two-hundred day simple moving average of $28.01.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.30. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The business had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same period in the previous year, the business posted $0.69 earnings per share. As a group, research analysts anticipate that Manulife Financial Co. will post 2.72 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.296 per share. The ex-dividend date is Wednesday, November 20th. 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 3.69%. Manulife Financial’s dividend payout ratio (DPR) is 57.00%.

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.