Manulife Financial Co. (NYSE:MFC) Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. trimmed its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,603,404 shares of the financial services provider’s stock after selling 1,361,732 shares during the quarter. Manulife Financial comprises 2.1% of Beutel Goodman & Co Ltd.’s investment portfolio, making the stock its 14th biggest position. Beutel Goodman & Co Ltd. owned 0.73% of Manulife Financial worth $386,987,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Crews Bank & Trust acquired a new position in shares of Manulife Financial in the fourth quarter worth $26,000. Brooklyn Investment Group purchased a new position in shares of Manulife Financial during the third quarter worth approximately $26,000. Lee Danner & Bass Inc. purchased a new stake in shares of Manulife Financial in the fourth quarter valued at about $31,000. Stonebridge Financial Group LLC purchased a new position in shares of Manulife Financial in the 4th quarter valued at approximately $34,000. Finally, Golden State Wealth Management LLC purchased a new position in Manulife Financial during the 4th quarter worth $35,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Stock Performance

Shares of NYSE:MFC opened at $30.77 on Friday. The stock has a fifty day moving average of $30.14 and a 200-day moving average of $30.40. The company has a market capitalization of $53.01 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a one year low of $22.61 and a one year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released 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 business had revenue of $9.31 billion during the quarter. As a group, research analysts forecast that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.3094 per share. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, March 5th. This represents a $1.24 annualized dividend and a yield of 4.02%. Manulife Financial’s dividend payout ratio is currently 58.45%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MFC. Royal Bank of Canada upped their price target 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 reaffirmed 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus 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.