Manulife Financial Co. (NYSE:MFC) Position Reduced by Twin Tree Management LP

Twin Tree Management LP lowered its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 30.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 99,353 shares of the financial services provider’s stock after selling 42,666 shares during the period. Twin Tree Management LP’s holdings in Manulife Financial were worth $3,051,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of MFC. National Bank of Canada FI increased its holdings in shares of Manulife Financial by 13.5% in the third quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider’s stock valued at $829,374,000 after buying an additional 3,329,892 shares in the last quarter. Bridgewater Associates LP increased its holdings in shares of Manulife Financial by 169.6% in the third quarter. Bridgewater Associates LP now owns 1,404,481 shares of the financial services provider’s stock valued at $41,554,000 after buying an additional 883,624 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Manulife Financial by 1,067.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 686,418 shares of the financial services provider’s stock valued at $21,080,000 after buying an additional 627,614 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Manulife Financial by 8.1% in the third quarter. Geode Capital Management LLC now owns 8,273,260 shares of the financial services provider’s stock valued at $247,473,000 after buying an additional 616,517 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Manulife Financial in the third quarter valued at $17,412,000. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Down 0.2 %

Shares of NYSE:MFC opened at $30.02 on Wednesday. The company’s fifty day moving average is $30.05 and its two-hundred day moving average is $30.25. Manulife Financial Co. has a 12-month low of $22.61 and a 12-month high of $33.07. The company has a market cap of $51.70 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.67 by $0.07. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The business had revenue of $9.31 billion for the quarter. Equities research analysts anticipate that Manulife Financial Co. 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 Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.3094 per share. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Wednesday, March 5th. Manulife Financial’s payout ratio is currently 58.45%.

Analyst Ratings Changes

MFC has been the topic of several research reports. Royal Bank of Canada upped their price target on Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Manulife Financial currently has a consensus rating of “Buy” and an average target price of $45.50.

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.