Value Partners Investments Inc. Has $294,000 Stake in Manulife Financial Co. (NYSE:MFC)

Value Partners Investments Inc. reduced its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 9.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,581 shares of the financial services provider’s stock after selling 966 shares during the period. Value Partners Investments Inc.’s holdings in Manulife Financial were worth $294,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Crews Bank & Trust acquired a new stake in Manulife Financial in the fourth quarter valued at approximately $26,000. Lee Danner & Bass Inc. bought a new position in shares of Manulife Financial in the 4th quarter valued at $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Manulife Financial during the 4th quarter valued at $34,000. Golden State Wealth Management LLC acquired a new stake in shares of Manulife Financial during the 4th quarter valued at $35,000. Finally, CKW Financial Group bought a new stake in Manulife Financial during the 4th quarter worth $37,000. 52.56% of the stock is owned by institutional investors.

Manulife Financial Trading Up 2.7 %

NYSE MFC opened at $28.04 on Monday. The firm has a market capitalization of $48.18 billion, a PE ratio of 13.54, a price-to-earnings-growth ratio of 1.11 and a beta of 0.89. The business’s 50-day moving average price is $29.85 and its two-hundred day moving average price is $30.46. 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 earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS 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. As a group, analysts forecast that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a dividend of $0.3094 per share. This represents a $1.24 dividend on an annualized basis and a yield of 4.41%. 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 (DPR) is currently 58.45%.

Analyst Ratings Changes

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