Selective Wealth Management Inc. Sells 1,370 Shares of Manulife Financial Co. (NYSE:MFC)

Selective Wealth Management Inc. trimmed its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 12.0% in the 4th quarter, HoldingsChannel reports. The fund owned 10,050 shares of the financial services provider’s stock after selling 1,370 shares during the quarter. Selective Wealth Management Inc.’s holdings in Manulife Financial were worth $300,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Brooklyn Investment Group raised its holdings in Manulife Financial by 78.1% in the fourth quarter. Brooklyn Investment Group now owns 1,537 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 674 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of Manulife Financial in the 4th quarter worth approximately $212,000. Wealthcare Advisory Partners LLC bought a new position in shares of Manulife Financial during the 4th quarter worth approximately $208,000. Avanza Fonder AB purchased a new stake in Manulife Financial during the fourth quarter valued at approximately $3,410,000. Finally, Dixon Mitchell Investment Counsel Inc. boosted its stake in Manulife Financial by 1.8% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 559,985 shares of the financial services provider’s stock valued at $17,194,000 after acquiring an additional 9,759 shares in the last quarter. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Manulife Financial Trading Down 0.8 %

NYSE MFC opened at $30.58 on Friday. The firm’s fifty day simple moving average is $31.34 and its two-hundred day simple moving average is $29.06. The firm has a market capitalization of $52.86 billion, a P/E ratio of 14.77, a P/E/G ratio of 1.01 and a beta of 1.09. Manulife Financial Co. has a 12-month low of $20.78 and a 12-month high of $33.07.

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. The company had revenue of $10.69 billion for the quarter, compared to analyst estimates of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same period in the prior year, the company posted $0.69 EPS. As a group, sell-side analysts predict that Manulife Financial Co. will post 2.71 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors 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 3.87%. Manulife Financial’s dividend payout ratio (DPR) is 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.