Thrivent Financial for Lutherans Trims Stock Position in Manulife Financial Co. (NYSE:MFC)

Thrivent Financial for Lutherans decreased its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 181,726 shares of the financial services provider’s stock after selling 1,476 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Manulife Financial were worth $5,864,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MFC. Franklin Resources Inc. boosted its position in Manulife Financial by 16.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider’s stock worth $61,426,000 after purchasing an additional 279,418 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in Manulife Financial by 148.9% during the third quarter. Sanctuary Advisors LLC now owns 73,346 shares of the financial services provider’s stock worth $2,382,000 after buying an additional 43,877 shares in the last quarter. Dorsey & Whitney Trust CO LLC acquired a new stake in Manulife Financial during the fourth quarter valued at $330,000. AEGON ASSET MANAGEMENT UK Plc increased its holdings in Manulife Financial by 14.9% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 88,631 shares of the financial services provider’s stock valued at $2,719,000 after buying an additional 11,509 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Manulife Financial by 4.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,809,774 shares of the financial services provider’s stock worth $55,578,000 after acquiring an additional 81,799 shares during the period. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Trading Down 0.3 %

Shares of Manulife Financial stock opened at $30.45 on Monday. Manulife Financial Co. has a twelve month low of $22.61 and a twelve month high of $33.07. The firm’s 50-day moving average price is $30.05 and its 200 day moving average price is $30.31. The firm has a market capitalization of $52.45 billion, a PE ratio of 14.71, a P/E/G ratio of 1.11 and a beta of 1.05.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.07. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The business had revenue of $9.31 billion for the quarter. On average, sell-side analysts predict that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.3094 per share. This represents a $1.24 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s payout ratio is 58.45%.

Analyst Ratings Changes

A number of research firms have recently commented on MFC. Royal Bank of Canada raised their target price on Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target 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.