Cyndeo Wealth Partners LLC Cuts Stock Position in Manulife Financial Co. (NYSE:MFC)

Cyndeo Wealth Partners LLC trimmed its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 7.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,316 shares of the financial services provider’s stock after selling 932 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Manulife Financial were worth $378,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Baron Wealth Management LLC grew its holdings in shares of Manulife Financial by 2.3% in the third quarter. Baron Wealth Management LLC now owns 14,400 shares of the financial services provider’s stock valued at $426,000 after purchasing an additional 330 shares in the last quarter. Americana Partners LLC increased its position in shares of Manulife Financial by 0.5% during the third quarter. Americana Partners LLC now owns 69,967 shares of the financial services provider’s stock worth $2,068,000 after acquiring an additional 364 shares during the period. Arkadios Wealth Advisors raised its stake in shares of Manulife Financial by 1.3% in the third quarter. Arkadios Wealth Advisors now owns 41,841 shares of the financial services provider’s stock valued at $1,236,000 after acquiring an additional 547 shares in the last quarter. Kathmere Capital Management LLC boosted its holdings in Manulife Financial by 4.5% in the fourth quarter. Kathmere Capital Management LLC now owns 13,340 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 569 shares during the period. Finally, Daymark Wealth Partners LLC grew its stake in Manulife Financial by 1.7% during the 3rd quarter. Daymark Wealth Partners LLC now owns 34,886 shares of the financial services provider’s stock worth $1,031,000 after purchasing an additional 596 shares in the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Price Performance

Shares of NYSE MFC opened at $30.53 on Monday. The stock’s 50-day moving average is $31.12 and its two-hundred day moving average is $29.24. The company has a market cap of $52.77 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 1.05 and a beta of 1.09. Manulife Financial Co. has a 1-year low of $21.54 and a 1-year high of $33.07.

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

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th were paid a $0.296 dividend. The ex-dividend date was Wednesday, November 20th. 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 3.88%. Manulife Financial’s dividend payout ratio (DPR) is currently 59.42%.

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.