Manulife Financial Co. (NYSE:MFC) is Cardinal Capital Management Inc.’s 2nd Largest Position

Cardinal Capital Management Inc. lessened its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,188,673 shares of the financial services provider’s stock after selling 79,815 shares during the period. Manulife Financial makes up about 5.8% of Cardinal Capital Management Inc.’s holdings, making the stock its 2nd biggest position. Cardinal Capital Management Inc.’s holdings in Manulife Financial were worth $129,684,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Anchor Investment Management LLC purchased a new stake in Manulife Financial in the fourth quarter valued at approximately $27,000. Fortis Group Advisors LLC raised its position in shares of Manulife Financial by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 1,210 shares of the financial services provider’s stock valued at $27,000 after buying an additional 605 shares in the last quarter. Trust Co. of Vermont lifted its holdings in shares of Manulife Financial by 478.5% during the 3rd quarter. Trust Co. of Vermont now owns 1,533 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 1,268 shares during the last quarter. Creekmur Asset Management LLC purchased a new position in Manulife Financial in the fourth quarter worth $30,000. Finally, Goodman Advisory Group LLC bought a new position in Manulife Financial in the fourth quarter valued at $32,000. 52.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MFC shares. Jefferies Financial Group started coverage on Manulife Financial in a research note on Thursday, February 22nd. They set a “buy” rating for the company. National Bank Financial upgraded Manulife Financial from a “sector perform” rating to an “outperform” rating in a research report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Manulife Financial currently has a consensus rating of “Moderate Buy” and an average price target of $33.33.

Manulife Financial Stock Up 0.8 %

Shares of NYSE MFC traded up $0.20 during midday trading on Thursday, reaching $25.75. The company had a trading volume of 1,608,823 shares, compared to its average volume of 3,086,875. The firm’s fifty day moving average price is $24.98 and its 200-day moving average price is $23.51. Manulife Financial Co. has a one year low of $17.07 and a one year high of $26.81. The stock has a market cap of $46.09 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 0.93 and a beta of 1.09.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.04. Manulife Financial had a return on equity of 16.27% and a net margin of 9.28%. The firm had revenue of $9.49 billion during the quarter, compared to the consensus estimate of $8.85 billion. As a group, equities research analysts expect that Manulife Financial Co. will post 2.74 EPS for the current year.

Manulife Financial Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date was Tuesday, May 21st. Manulife Financial’s dividend payout ratio (DPR) is presently 67.44%.

Manulife Financial 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.