Lincluden Management Ltd. Sells 194,461 Shares of Manulife Financial Co. (NYSE:MFC)

Lincluden Management Ltd. lessened its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 14.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,153,282 shares of the financial services provider’s stock after selling 194,461 shares during the quarter. Manulife Financial comprises 4.3% of Lincluden Management Ltd.’s investment portfolio, making the stock its 8th biggest holding. Lincluden Management Ltd. owned about 0.07% of Manulife Financial worth $35,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the company. National Bank of Canada FI increased its stake in Manulife Financial by 13.5% during the 3rd 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 purchasing an additional 3,329,892 shares in the last quarter. Geode Capital Management LLC increased its position in shares of 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 acquiring an additional 616,517 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Manulife Financial by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,186,930 shares of the financial services provider’s stock worth $153,455,000 after acquiring an additional 158,216 shares in the last quarter. Alberta Investment Management Corp raised its holdings in shares of Manulife Financial by 5.1% in the 4th quarter. Alberta Investment Management Corp now owns 4,896,049 shares of the financial services provider’s stock worth $150,333,000 after acquiring an additional 236,808 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Manulife Financial by 1.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,035,663 shares of the financial services provider’s stock valued at $60,202,000 after acquiring an additional 36,838 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada upped their price target on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $45.50.

Manulife Financial Stock Performance

NYSE:MFC opened at $30.10 on Tuesday. Manulife Financial Co. has a 52 week low of $22.61 and a 52 week high of $33.07. The firm has a 50-day moving average price of $30.30 and a two-hundred day moving average price of $29.87. The firm has a market cap of $51.87 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 1.11 and a beta of 1.09.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.07. The company had revenue of $9.31 billion during the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. As a group, sell-side analysts forecast that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.3094 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.11%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, March 5th. Manulife Financial’s payout ratio is presently 58.45%.

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.