Manulife Financial Co. (NYSE:MFC) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. reduced its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 6.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 451,825 shares of the financial services provider’s stock after selling 31,206 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Manulife Financial were worth $13,354,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Grove Bank & Trust purchased a new position in Manulife Financial in the 2nd quarter valued at approximately $25,000. West Financial Advisors LLC acquired a new position in shares of Manulife Financial during the 3rd quarter worth $26,000. Brooklyn Investment Group acquired a new position in shares of Manulife Financial during the 3rd quarter worth $26,000. Addison Advisors LLC boosted its position in shares of Manulife Financial by 77.2% in the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock worth $29,000 after buying an additional 467 shares in the last quarter. Finally, HHM Wealth Advisors LLC grew its stake in Manulife Financial by 119.0% in the 2nd quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 600 shares during the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays started coverage on shares of Manulife Financial in a report on Thursday, September 5th. They issued an “equal weight” rating on the stock. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $37.50.

Manulife Financial Price Performance

MFC stock traded up $0.04 during midday trading on Thursday, hitting $31.89. The stock had a trading volume of 1,862,543 shares, compared to its average volume of 2,538,500. Manulife Financial Co. has a 12-month low of $19.20 and a 12-month high of $33.07. The firm has a market cap of $55.87 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.17 and a beta of 1.08. The company’s 50-day moving average price is $30.60 and its 200 day moving average price is $27.83.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The firm had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same period in the prior year, the firm posted $0.69 earnings per share. As a group, sell-side analysts anticipate that Manulife Financial Co. will post 2.72 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.296 per share. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial’s dividend payout ratio is presently 57.00%.

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.