Aviva PLC Has $61.46 Million Stock Position in Manulife Financial Co. (NYSE:MFC)

Aviva PLC cut its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,004,578 shares of the financial services provider’s stock after selling 105,563 shares during the period. Aviva PLC owned about 0.12% of Manulife Financial worth $61,459,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Crews Bank & Trust acquired a new stake in Manulife Financial in the 4th quarter valued at $26,000. Lee Danner & Bass Inc. acquired a new stake in shares of Manulife Financial in the fourth quarter valued at about $31,000. Stonebridge Financial Group LLC acquired a new position in Manulife Financial during the fourth quarter valued at approximately $34,000. Golden State Wealth Management LLC acquired a new position in Manulife Financial during the fourth quarter valued at approximately $35,000. Finally, CKW Financial Group acquired a new position in shares of Manulife Financial during the 4th quarter worth approximately $37,000. Institutional investors own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Royal Bank of Canada increased their price objective on Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $45.50.

Manulife Financial Stock Down 9.3 %

MFC stock opened at $27.79 on Friday. The company’s 50-day moving average price is $30.16 and its two-hundred day moving average price is $30.52. The firm has a market cap of $47.87 billion, a P/E ratio of 13.43, a P/E/G ratio of 1.11 and a beta of 0.89. Manulife Financial Co. has a 12 month low of $22.61 and a 12 month high of $33.07.

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

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.3094 per share. This represents a $1.24 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date was Wednesday, March 5th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s dividend payout ratio is currently 58.45%.

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.