Manulife Financial Co. (NYSE:MFC) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. lowered its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 49,905 shares of the financial services provider’s stock after selling 900 shares during the period. Moors & Cabot Inc.’s holdings in Manulife Financial were worth $1,475,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MFC. 1832 Asset Management L.P. increased its position in Manulife Financial by 34.3% during the second quarter. 1832 Asset Management L.P. now owns 19,723,609 shares of the financial services provider’s stock worth $525,042,000 after buying an additional 5,036,716 shares during the period. Acadian Asset Management LLC grew its holdings in Manulife Financial by 288.4% in the 2nd quarter. Acadian Asset Management LLC now owns 3,943,509 shares of the financial services provider’s stock valued at $104,966,000 after buying an additional 2,928,316 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in shares of Manulife Financial in the 2nd quarter worth about $35,806,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Manulife Financial by 1,210.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,161,059 shares of the financial services provider’s stock valued at $30,922,000 after acquiring an additional 1,072,474 shares in the last quarter. Finally, Toronto Dominion Bank boosted its holdings in Manulife Financial by 3.2% in the 2nd quarter. Toronto Dominion Bank now owns 24,057,503 shares of the financial services provider’s stock worth $640,411,000 after acquiring an additional 750,422 shares during the period. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Price Performance

Shares of Manulife Financial stock opened at $32.68 on Friday. Manulife Financial Co. has a fifty-two week low of $18.91 and a fifty-two week high of $33.07. The company has a market cap of $57.25 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.19 and a beta of 1.08. The firm has a fifty day moving average price of $30.29 and a two-hundred day moving average price of $27.62.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The firm had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same period last year, the company earned $0.69 earnings per share. Analysts expect that Manulife Financial Co. will post 2.74 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.296 per share. The ex-dividend date is Wednesday, November 20th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a dividend yield of 3.62%. Manulife Financial’s payout ratio is currently 56.04%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MFC. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Barclays assumed coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They set an “equal weight” rating for the company. One research 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 stock. According to MarketBeat.com, Manulife Financial has a consensus rating of “Buy” and an average target price of $37.50.

Manulife Financial 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.