Manulife Financial Co. (NYSE:MFC) Shares Sold by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC reduced its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 7.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 12,316 shares of the financial services provider’s stock after selling 932 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Manulife Financial were worth $378,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. National Bank of Canada FI increased its position in shares of Manulife Financial by 13.5% during the third quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider’s stock worth $829,374,000 after purchasing an additional 3,329,892 shares in the last quarter. Legal & General Group Plc grew its stake in 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 worth $393,592,000 after buying an additional 75,244 shares during the last quarter. Geode Capital Management LLC increased its position in Manulife Financial by 8.1% during the third quarter. Geode Capital Management LLC now owns 8,273,260 shares of the financial services provider’s stock worth $247,473,000 after buying an additional 616,517 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Manulife Financial by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,186,930 shares of the financial services provider’s stock valued at $153,455,000 after acquiring an additional 158,216 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Manulife Financial by 1.8% during the third quarter. The Manufacturers Life Insurance Company now owns 2,035,663 shares of the financial services provider’s stock worth $60,202,000 after acquiring an additional 36,838 shares during the last quarter. 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 $30.53 on Monday. The stock has a market capitalization of $52.77 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.05 and a beta of 1.09. Manulife Financial Co. has a 12 month low of $21.54 and a 12 month high of $33.07. The firm’s fifty day simple moving average is $31.12 and its 200-day simple moving average is $29.24.

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

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th were paid a $0.296 dividend. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a yield of 3.88%. The ex-dividend date was Wednesday, November 20th. Manulife Financial’s payout ratio is currently 59.42%.

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.