Cardinal Capital Management Inc. Has $150.92 Million Holdings in Manulife Financial Co. (NYSE:MFC)

Cardinal Capital Management Inc. lessened its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,923,852 shares of the financial services provider’s stock after selling 130,175 shares during the period. Manulife Financial makes up about 5.1% of Cardinal Capital Management Inc.’s holdings, making the stock its biggest position. Cardinal Capital Management Inc.’s holdings in Manulife Financial were worth $150,924,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MFC. Franklin Resources Inc. raised its stake in Manulife Financial by 16.4% in the third quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider’s stock valued at $61,426,000 after purchasing an additional 279,418 shares in the last quarter. Sanctuary Advisors LLC raised its position in shares of Manulife Financial by 148.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 73,346 shares of the financial services provider’s stock valued at $2,382,000 after buying an additional 43,877 shares in the last quarter. Legal & General Group Plc raised its position in shares of Manulife Financial by 0.5% during the 2nd quarter. Legal & General Group Plc now owns 14,783,400 shares of the financial services provider’s stock valued at $393,592,000 after buying an additional 75,244 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in Manulife Financial in the third quarter worth $13,318,000. Finally, DRW Securities LLC bought a new position in Manulife Financial in the third quarter valued at $1,008,000. 52.56% of the stock is owned by institutional investors.

Manulife Financial Stock Down 1.3 %

Shares of MFC stock opened at $30.43 on Thursday. The firm has a market cap of $52.61 billion, a P/E ratio of 14.70, a price-to-earnings-growth ratio of 1.06 and a beta of 1.09. The business has a 50-day moving average price of $31.21 and a two-hundred day moving average price of $29.19. Manulife Financial Co. has a 12-month low of $21.38 and a 12-month high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.30. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The business had revenue of $10.69 billion for the quarter, compared to analysts’ expectations of $9.73 billion. During the same period last year, the business earned $0.69 earnings per share. As a group, research analysts expect that Manulife Financial Co. will post 2.69 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th were issued a $0.296 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date was Wednesday, November 20th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s dividend payout ratio (DPR) is 59.42%.

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.