Northwest & Ethical Investments L.P. Lowers Position in Manulife Financial Co. (NYSE:MFC)

Northwest & Ethical Investments L.P. lessened its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 6.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 451,825 shares of the financial services provider’s stock after selling 31,206 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Manulife Financial were worth $13,354,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Baron Wealth Management LLC lifted its holdings in Manulife Financial by 2.3% during the 3rd quarter. Baron Wealth Management LLC now owns 14,400 shares of the financial services provider’s stock worth $426,000 after buying an additional 330 shares in the last quarter. Americana Partners LLC boosted its holdings in shares of Manulife Financial by 0.5% in the 3rd quarter. Americana Partners LLC now owns 69,967 shares of the financial services provider’s stock valued at $2,068,000 after buying an additional 364 shares in the last quarter. Indiana Trust & Investment Management CO boosted its holdings in shares of 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 buying an additional 462 shares in the last quarter. Addison Advisors LLC grew its position in shares of Manulife Financial by 77.2% in the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock valued at $29,000 after buying an additional 467 shares during the last quarter. Finally, LRI Investments LLC lifted its position in Manulife Financial by 8.6% in the second 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 during the last quarter. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Up 0.1 %

Shares of NYSE MFC traded up $0.04 during mid-day trading on Thursday, hitting $31.89. 1,862,543 shares of the company were exchanged, compared to its average volume of 2,538,500. The stock has a 50 day simple moving average of $30.60 and a 200-day simple moving average of $27.83. Manulife Financial Co. has a 1-year low of $19.20 and a 1-year high of $33.07. The firm has a market cap of $55.87 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 1.17 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, topping 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 company had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $9.73 billion. During the same quarter last year, the business earned $0.69 EPS. Analysts anticipate that Manulife Financial Co. will post 2.72 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.296 per share. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, November 20th. This represents a $1.18 annualized dividend and a yield of 3.71%. Manulife Financial’s payout ratio is presently 57.00%.

Analyst Upgrades and Downgrades

MFC has been the topic of several research reports. Barclays assumed coverage on Manulife Financial in a report on Thursday, September 5th. They set an “equal weight” rating on the stock. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. One equities research 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. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $37.50.

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.