OPTIMAS CAPITAL Ltd Decreases Stock Holdings in Manulife Financial Co. (NYSE:MFC)

OPTIMAS CAPITAL Ltd lessened its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 10.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 211,100 shares of the financial services provider’s stock after selling 25,200 shares during the quarter. Manulife Financial comprises 8.7% of OPTIMAS CAPITAL Ltd’s portfolio, making the stock its 2nd biggest holding. OPTIMAS CAPITAL Ltd’s holdings in Manulife Financial were worth $6,483,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brooklyn Investment Group purchased a new position in Manulife Financial during the 3rd quarter valued at approximately $26,000. Crews Bank & Trust purchased a new position in Manulife Financial during the 4th quarter valued at approximately $26,000. Stonebridge Financial Group LLC purchased a new position in Manulife Financial during the 4th quarter valued at approximately $34,000. Golden State Wealth Management LLC purchased a new position in Manulife Financial during the 4th quarter valued at approximately $35,000. Finally, CKW Financial Group purchased a new position in shares of Manulife Financial in the 4th quarter worth approximately $37,000. Institutional investors own 52.56% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Royal Bank of Canada boosted their target price on Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. One 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. According to data from MarketBeat, Manulife Financial has a consensus rating of “Buy” and an average target price of $45.50.

Manulife Financial Stock Up 2.3 %

Shares of Manulife Financial stock opened at $30.14 on Tuesday. The stock’s fifty day moving average is $30.06 and its two-hundred day moving average is $30.23. The company has a market capitalization of $51.91 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a 52 week low of $22.61 and a 52 week high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.67 by $0.07. The company 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%. As a group, research analysts anticipate 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. Shareholders of record on Wednesday, March 5th will be issued a $0.3094 dividend. This represents a $1.24 annualized dividend and a dividend yield of 4.11%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, March 5th. Manulife Financial’s dividend payout ratio is currently 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.