Manulife Financial Co. (NYSE:MFC) Stake Lowered by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC decreased its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,108,469 shares of the financial services provider’s stock after selling 50,219 shares during the period. O Shaughnessy Asset Management LLC owned 0.06% of Manulife Financial worth $34,022,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MFC. Crews Bank & Trust acquired a new position in shares of Manulife Financial during the fourth quarter valued at $26,000. Brooklyn Investment Group bought a new stake in Manulife Financial in the 3rd quarter valued at about $26,000. Lee Danner & Bass Inc. acquired a new position in Manulife Financial during the 4th quarter valued at about $31,000. Stonebridge Financial Group LLC bought a new position in Manulife Financial in the 4th quarter worth about $34,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Manulife Financial in the fourth quarter valued at approximately $35,000. 52.56% of the stock is currently owned by institutional investors.

Manulife Financial Price Performance

Manulife Financial stock opened at $30.77 on Friday. Manulife Financial Co. has a 12-month low of $22.61 and a 12-month high of $33.07. The stock 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. The firm has a 50 day simple moving average of $30.14 and a 200-day simple moving average of $30.42.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results 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. The company had revenue of $9.31 billion for the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. On average, analysts forecast that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm 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. The ex-dividend date of this dividend was Wednesday, March 5th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. 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 Analyst Weigh In

Several equities analysts have recently issued reports on MFC shares. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. Royal Bank of Canada boosted their price target on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $45.50.

Manulife Financial Company 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.