Clearbridge Investments LLC Lowers Stake in Manulife Financial Co. (NYSE:MFC)

Clearbridge Investments LLC cut its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 34.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,101,946 shares of the financial services provider’s stock after selling 571,825 shares during the quarter. Clearbridge Investments LLC owned about 0.06% of Manulife Financial worth $33,841,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Little House Capital LLC raised its holdings in Manulife Financial by 1.0% in the fourth quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider’s stock worth $1,037,000 after purchasing an additional 331 shares in the last quarter. Robertson Stephens Wealth Management LLC raised its stake in shares of Manulife Financial by 1.5% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 23,068 shares of the financial services provider’s stock worth $708,000 after acquiring an additional 339 shares in the last quarter. Erste Asset Management GmbH raised its stake in shares of Manulife Financial by 0.6% during the 4th quarter. Erste Asset Management GmbH now owns 69,300 shares of the financial services provider’s stock worth $2,133,000 after acquiring an additional 400 shares in the last quarter. TIAA Trust National Association boosted its stake in Manulife Financial by 5.0% in the fourth quarter. TIAA Trust National Association now owns 8,419 shares of the financial services provider’s stock valued at $259,000 after acquiring an additional 404 shares in the last quarter. Finally, Addison Advisors LLC grew its holdings in Manulife Financial by 45.9% in the fourth quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 449 shares during the last quarter. 52.56% of the stock is owned by institutional investors.

Manulife Financial Price Performance

Shares of MFC stock opened at $31.79 on Wednesday. The business has a fifty day moving average of $30.17 and a 200 day moving average of $30.49. The firm has a market capitalization of $54.75 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a 1 year low of $22.61 and a 1 year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The firm had revenue of $9.31 billion during the quarter. As a group, equities research analysts expect that Manulife Financial Co. will post 2.87 earnings per share for the current 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 paid a $0.3094 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.89%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s dividend payout ratio is presently 58.45%.

Analyst Ratings Changes

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