Manulife Financial Co. (NYSE:MFC) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance lowered its stake in Manulife Financial Co. (NYSE:MFCFree Report) (TSE:MFC) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,583 shares of the financial services provider’s stock after selling 331 shares during the period. Independent Advisor Alliance’s holdings in Manulife Financial were worth $1,229,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Toronto Dominion Bank raised its position in shares of Manulife Financial by 3.2% during the second quarter. Toronto Dominion Bank now owns 24,057,503 shares of the financial services provider’s stock worth $640,411,000 after purchasing an additional 750,422 shares during the period. 1832 Asset Management L.P. raised its holdings in Manulife Financial by 34.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 19,723,609 shares of the financial services provider’s stock worth $525,042,000 after buying an additional 5,036,716 shares during the period. Legal & General Group Plc lifted its stake in Manulife Financial by 0.5% during the second quarter. Legal & General Group Plc now owns 14,783,400 shares of the financial services provider’s stock valued at $393,592,000 after buying an additional 75,244 shares in the last quarter. 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 worth $153,455,000 after buying an additional 158,216 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in shares of Manulife Financial by 288.4% in the second quarter. Acadian Asset Management LLC now owns 3,943,509 shares of the financial services provider’s stock worth $104,966,000 after buying an additional 2,928,316 shares during the period. Institutional investors and hedge funds own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on MFC. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Barclays started coverage on Manulife Financial in a report on Thursday, September 5th. They issued an “equal weight” rating for the company. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $37.50.

Read Our Latest Stock Report on MFC

Manulife Financial Stock Performance

Shares of MFC opened at $31.84 on Wednesday. The company has a market capitalization of $55.78 billion, a PE ratio of 15.38, a PEG ratio of 1.18 and a beta of 1.08. The company’s 50 day moving average price is $30.53 and its 200 day moving average price is $27.81. Manulife Financial Co. has a 52 week low of $19.20 and a 52 week high of $33.07.

Manulife Financial (NYSE:MFCGet Free Report) (TSE:MFC) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.30. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The company had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same quarter last year, the business posted $0.69 EPS. On average, equities analysts forecast that Manulife Financial Co. will post 2.74 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be issued a $0.296 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.18 dividend on an annualized basis and a yield of 3.72%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s dividend payout ratio is currently 57.00%.

Manulife Financial Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Manulife Financial (NYSE:MFC)

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