Manulife Financial Co. (NYSE:MFC) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,979,983 shares of the financial services provider’s stock after selling 31,619 shares during the quarter. JPMorgan Chase & Co. owned about 0.52% of Manulife Financial worth $275,775,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

MFC has been the subject of several analyst reports. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. Royal Bank of Canada raised their price objective 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 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 company’s stock. According to MarketBeat.com, Manulife Financial currently has a consensus rating of “Buy” and an average price target of $45.50.

Manulife Financial Stock Down 1.1 %

Shares of NYSE MFC opened at $30.77 on Monday. Manulife Financial Co. has a 52-week low of $22.61 and a 52-week high of $33.07. The business’s 50 day moving average is $30.14 and its two-hundred day moving average is $30.44. The firm has a market cap of $53.01 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 1.11 and a beta of 1.05.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.07. The firm 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%. Analysts anticipate that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were 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 dividend yield of 4.02%. The ex-dividend date of this dividend was Wednesday, March 5th. Manulife Financial’s dividend payout ratio is currently 58.45%.

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.