Gold Investment Management Ltd. Cuts Stake in Manulife Financial Co. (NYSE:MFC)

Gold Investment Management Ltd. decreased its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 9.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 181,177 shares of the financial services provider’s stock after selling 17,837 shares during the quarter. Manulife Financial accounts for approximately 2.2% of Gold Investment Management Ltd.’s investment portfolio, making the stock its 9th biggest holding. Gold Investment Management Ltd.’s holdings in Manulife Financial were worth $5,354,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MFC. Grove Bank & Trust bought a new position in Manulife Financial in the 2nd quarter valued at about $25,000. West Financial Advisors LLC bought a new position in shares of Manulife Financial during the 3rd quarter worth approximately $26,000. Addison Advisors LLC lifted its position in shares of Manulife Financial by 77.2% during the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock worth $29,000 after buying an additional 467 shares in the last quarter. HHM Wealth Advisors LLC lifted its position in shares of 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 in the last quarter. Finally, Sachetta LLC lifted its position in shares of Manulife Financial by 209.5% during the 2nd quarter. Sachetta LLC now owns 1,170 shares of the financial services provider’s stock worth $31,000 after buying an additional 792 shares in the last quarter. Institutional investors own 52.56% of the company’s stock.

Analyst Ratings Changes

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

Manulife Financial Trading Down 1.2 %

Manulife Financial stock opened at $31.90 on Friday. Manulife Financial Co. has a 1-year low of $18.42 and a 1-year high of $32.94. The firm has a market capitalization of $56.11 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 1.08 and a beta of 1.08. The firm has a 50 day simple moving average of $29.21 and a 200 day simple moving average of $26.96.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share for the quarter, beating 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 business had revenue of $9.41 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same period in the previous year, the business earned $0.62 EPS. On average, equities research analysts forecast that Manulife Financial Co. will post 2.74 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be paid a $0.296 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 3.71%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, November 20th. Manulife Financial’s payout ratio is currently 67.05%.

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.