Foster & Motley Inc. Sells 3,992 Shares of Manulife Financial Co. (NYSE:MFC)

Foster & Motley Inc. reduced its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 326,262 shares of the financial services provider’s stock after selling 3,992 shares during the quarter. Foster & Motley Inc.’s holdings in Manulife Financial were worth $10,020,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brooklyn Investment Group acquired a new position in shares of Manulife Financial during the third quarter valued at about $26,000. West Financial Advisors LLC acquired a new position in Manulife Financial during the 3rd quarter valued at about $26,000. Capital Performance Advisors LLP bought a new stake in Manulife Financial during the 3rd quarter worth approximately $30,000. Fortitude Family Office LLC purchased a new stake in shares of Manulife Financial in the third quarter worth approximately $31,000. Finally, CKW Financial Group bought a new position in shares of Manulife Financial in the fourth quarter valued at approximately $37,000. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Trading Up 0.5 %

Shares of Manulife Financial stock opened at $30.38 on Thursday. The company has a market capitalization of $52.51 billion, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 1.05 and a beta of 1.09. The stock has a fifty day simple moving average of $31.03 and a 200 day simple moving average of $29.30. Manulife Financial Co. has a 12-month low of $21.54 and a 12-month high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.30. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The firm had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same quarter in the prior year, the business posted $0.69 EPS. On average, analysts predict that Manulife Financial Co. will post 2.69 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.296 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.18 annualized dividend and a dividend yield of 3.90%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s dividend payout ratio (DPR) is currently 59.42%.

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.