Manulife Financial Co. (NYSE:MFC) Shares Sold by Ninepoint Partners LP

Ninepoint Partners LP lessened its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 15.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 97,373 shares of the financial services provider’s stock after selling 18,145 shares during the quarter. Manulife Financial accounts for approximately 0.4% of Ninepoint Partners LP’s holdings, making the stock its 20th largest holding. Ninepoint Partners LP’s holdings in Manulife Financial were worth $2,990,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MFC. Brooklyn Investment Group acquired a new stake in Manulife Financial in the third quarter worth about $26,000. Crews Bank & Trust acquired a new stake in Manulife Financial in the fourth quarter worth about $26,000. Stonebridge Financial Group LLC acquired a new stake in Manulife Financial in the fourth quarter worth about $34,000. Golden State Wealth Management LLC acquired a new stake in Manulife Financial in the fourth quarter worth about $35,000. Finally, CKW Financial Group acquired a new stake in shares of Manulife Financial during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Trading Up 3.7 %

Shares of MFC stock opened at $29.45 on Friday. The stock has a 50 day moving average of $30.07 and a 200 day moving average of $30.19. The stock has a market cap of $50.73 billion, a P/E ratio of 14.23, a P/E/G ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a twelve month low of $22.61 and a twelve month high of $33.07.

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

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.3094 per share. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend is Wednesday, March 5th. Manulife Financial’s dividend payout ratio (DPR) is currently 58.45%.

Analysts Set New Price Targets

A number of research firms recently commented on MFC. Royal Bank of Canada lifted their target price on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. One equities research 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. According to MarketBeat, the company has a consensus 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.