Manulife Financial Corp $MFC Shares Sold by Capital World Investors

Capital World Investors trimmed its holdings in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 1.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,664,473 shares of the financial services provider’s stock after selling 53,226 shares during the quarter. Capital World Investors’ holdings in Manulife Financial were worth $145,327,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Root Financial Partners LLC bought a new stake in Manulife Financial during the 3rd quarter valued at $25,000. Caldwell Trust Co acquired a new position in Manulife Financial during the 2nd quarter worth $27,000. American Wealth Advisors LLC bought a new position in shares of Manulife Financial in the third quarter worth $36,000. Winnow Wealth LLC bought a new position in shares of Manulife Financial in the second quarter worth $38,000. Finally, Goodman Advisory Group LLC acquired a new position in shares of Manulife Financial during the second quarter valued at $39,000. 52.56% of the stock is owned by institutional investors.

Manulife Financial Trading Down 0.0%

NYSE:MFC opened at $33.76 on Thursday. The company has a 50-day moving average of $36.58 and a 200-day moving average of $34.33. The firm has a market cap of $56.60 billion, a price-to-earnings ratio of 15.21 and a beta of 0.83. Manulife Financial Corp has a twelve month low of $25.92 and a twelve month high of $38.72.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, February 11th. The financial services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. Manulife Financial had a net margin of 9.18% and a return on equity of 16.43%. The business had revenue of $11.32 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the firm earned $1.03 EPS. On average, research analysts forecast that Manulife Financial Corp will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Wednesday, February 25th will be issued a $0.485 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.44. This represents a $1.94 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Wednesday, February 25th. Manulife Financial’s dividend payout ratio is currently 63.96%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Manulife Financial in a report on Friday, February 13th. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research note on Thursday, February 5th. Morgan Stanley set a $51.00 price target on shares of Manulife Financial in a research report on Monday, December 15th. Weiss Ratings cut shares of Manulife Financial from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, February 13th. Finally, Canadian Imperial Bank of Commerce upgraded shares of Manulife Financial from a “neutral” rating to an “outperform” rating in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $51.50.

Manulife Financial Company Profile

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.