Cardinal Capital Management Inc. Has $150.92 Million Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Cardinal Capital Management Inc. trimmed its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 2.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,923,852 shares of the financial services provider’s stock after selling 130,175 shares during the period. Manulife Financial makes up 5.1% of Cardinal Capital Management Inc.’s investment portfolio, making the stock its largest holding. Cardinal Capital Management Inc. owned about 0.28% of Manulife Financial worth $150,924,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. National Bank of Canada FI boosted its holdings in Manulife Financial by 13.5% in the third quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider’s stock worth $829,374,000 after acquiring an additional 3,329,892 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in Manulife Financial during the 2nd quarter valued at $35,806,000. Bridgewater Associates LP lifted its stake in shares of Manulife Financial by 169.6% in the third quarter. Bridgewater Associates LP now owns 1,404,481 shares of the financial services provider’s stock valued at $41,554,000 after buying an additional 883,624 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Manulife Financial by 3.2% during 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 buying an additional 750,422 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Manulife Financial by 1,067.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 686,418 shares of the financial services provider’s stock worth $21,080,000 after acquiring an additional 627,614 shares in the last quarter. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Price Performance

MFC opened at $30.43 on Thursday. Manulife Financial Co. has a fifty-two week low of $21.38 and a fifty-two week high of $33.07. The company’s 50-day moving average is $31.21 and its 200 day moving average is $29.19. The firm has a market capitalization of $52.61 billion, a PE ratio of 14.70, a P/E/G ratio of 1.06 and a beta of 1.09.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.30. The business had revenue of $10.69 billion for the quarter, compared to analysts’ expectations of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same quarter in the previous year, the firm earned $0.69 earnings per share. As a group, analysts expect that Manulife Financial Co. will post 2.69 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, November 20th were paid a $0.296 dividend. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date was Wednesday, November 20th. Manulife Financial’s payout ratio is currently 59.42%.

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.