Manulife Financial Co. (NYSE:MFC) Shares Sold by LRI Investments LLC

LRI Investments LLC reduced its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 6.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,371 shares of the financial services provider’s stock after selling 448 shares during the period. LRI Investments LLC’s holdings in Manulife Financial were worth $188,000 at the end of the most recent reporting period.

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

Manulife Financial Stock Down 1.5 %

Shares of NYSE MFC opened at $31.45 on Wednesday. The business’s 50 day moving average is $31.08 and its two-hundred day moving average is $28.18. Manulife Financial Co. has a 52-week low of $20.09 and a 52-week high of $33.07. The firm has a market cap of $55.09 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 1.19 and a beta of 1.09.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (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 for the quarter, compared to the consensus estimate of $9.73 billion. During the same quarter in the previous year, the business earned $0.69 EPS. Analysts anticipate that Manulife Financial Co. will post 2.72 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.296 per share. This represents a $1.18 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Wednesday, November 20th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s dividend payout ratio is currently 57.00%.

Wall Street Analyst Weigh In

Separately, Barclays began coverage on shares of Manulife Financial in a report on Thursday, September 5th. They issued an “equal weight” rating for the company. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Manulife Financial currently has a consensus rating of “Buy” and an average price target of $37.50.

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.