Manulife Financial Co. (NYSE:MFC) Shares Sold by US Bancorp DE

US Bancorp DE lowered its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 7.5% in the fourth quarter, HoldingsChannel reports. The fund owned 285,437 shares of the financial services provider’s stock after selling 22,979 shares during the quarter. US Bancorp DE’s holdings in Manulife Financial were worth $8,766,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Franklin Resources Inc. raised its position in shares of Manulife Financial by 16.4% in the third quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider’s stock worth $61,426,000 after acquiring an additional 279,418 shares during the period. Sanctuary Advisors LLC increased its stake in shares of 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 purchasing an additional 43,877 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc increased its stake in shares of Manulife Financial by 14.9% during the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 88,631 shares of the financial services provider’s stock worth $2,719,000 after purchasing an additional 11,509 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Manulife Financial during the third quarter worth about $13,318,000. Finally, DRW Securities LLC purchased a new stake in shares of Manulife Financial during the third quarter worth about $1,008,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Trading Down 1.8 %

Shares of NYSE MFC opened at $30.61 on Tuesday. Manulife Financial Co. has a 12-month low of $22.61 and a 12-month high of $33.07. The stock has a market cap of $52.75 billion, a PE ratio of 14.79, a P/E/G ratio of 1.11 and a beta of 1.09. The company has a 50-day moving average of $30.35 and a 200 day moving average of $30.05.

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

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.3094 per share. This represents a $1.24 annualized dividend and a yield of 4.04%. The ex-dividend date is Wednesday, March 5th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s dividend payout ratio is currently 58.45%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MFC. Royal Bank of Canada boosted their target price on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Scotiabank reissued 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 issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $45.50.

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.