Manulife Financial Co. (NYSE:MFC) is Lincluden Management Ltd.’s 8th Largest Position

Lincluden Management Ltd. trimmed its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 3.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,347,743 shares of the financial services provider’s stock after selling 42,788 shares during the period. Manulife Financial makes up 4.3% of Lincluden Management Ltd.’s investment portfolio, making the stock its 8th largest holding. Lincluden Management Ltd. owned about 0.08% of Manulife Financial worth $39,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of MFC. West Financial Advisors LLC acquired a new stake in Manulife Financial during the 3rd quarter worth approximately $26,000. Grove Bank & Trust purchased a new position in Manulife Financial in the 2nd quarter valued at $25,000. Fortitude Family Office LLC acquired a new position in Manulife Financial in the 3rd quarter valued at $31,000. Addison Advisors LLC increased its stake in 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 period. Finally, HHM Wealth Advisors LLC raised its position in Manulife Financial by 119.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock worth $29,000 after buying an additional 600 shares during the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Stock Down 2.5 %

Shares of NYSE:MFC opened at $29.21 on Friday. The company has a market capitalization of $51.38 billion, a P/E ratio of 16.88, a P/E/G ratio of 1.09 and a beta of 1.08. The stock’s fifty day simple moving average is $28.98 and its 200-day simple moving average is $26.74. Manulife Financial Co. has a 52-week low of $17.31 and a 52-week high of $30.86.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.27. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. The firm had revenue of $9.41 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same quarter last year, the business earned $0.62 earnings per share. On average, sell-side analysts anticipate that Manulife Financial Co. will post 2.74 earnings per share for the current year.

Manulife Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date was Wednesday, August 21st. Manulife Financial’s payout ratio is 67.05%.

Analyst Ratings Changes

MFC has been the topic of a number of recent analyst reports. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Barclays began coverage on Manulife Financial in a research report on Thursday, September 5th. They set an “equal weight” rating on the stock. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Manulife Financial presently has an average rating of “Buy” and an average target price of $35.67.

Manulife Financial Company 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.