Schechter Investment Advisors LLC Decreases Stake in Manulife Financial Co. (NYSE:MFC)

Schechter Investment Advisors LLC lowered its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 12.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 28,666 shares of the financial services provider’s stock after selling 3,992 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Manulife Financial were worth $880,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. National Bank of Canada FI increased its holdings in Manulife Financial by 13.5% in the 3rd quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider’s stock worth $829,374,000 after acquiring an additional 3,329,892 shares during the last quarter. Geode Capital Management LLC grew its holdings in Manulife Financial by 8.1% during the 3rd quarter. Geode Capital Management LLC now owns 8,273,260 shares of the financial services provider’s stock valued at $247,473,000 after buying an additional 616,517 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Manulife Financial by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,186,930 shares of the financial services provider’s stock valued at $153,455,000 after buying an additional 158,216 shares in the last quarter. Alberta Investment Management Corp grew its holdings in Manulife Financial by 5.1% during the 4th quarter. Alberta Investment Management Corp now owns 4,896,049 shares of the financial services provider’s stock valued at $150,333,000 after buying an additional 236,808 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Manulife Financial by 1.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,035,663 shares of the financial services provider’s stock valued at $60,202,000 after buying an additional 36,838 shares in the last quarter. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MFC shares. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada lifted their target price on Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Manulife Financial has a consensus rating of “Buy” and an average target price of $45.50.

Manulife Financial Trading Down 4.5 %

Shares of MFC opened at $29.26 on Wednesday. The company has a market cap of $50.41 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. The stock has a 50-day moving average price of $30.32 and a 200-day moving average price of $30.08. Manulife Financial Co. has a 12-month low of $22.61 and a 12-month high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.07. The firm 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%. As a group, analysts predict that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.3094 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a yield of 4.23%. Manulife Financial’s payout ratio is presently 58.45%.

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.