UniSuper Management Pty Ltd Has $1.04 Million Stock Holdings in Manulife Financial Co. (NYSE:MFC)

UniSuper Management Pty Ltd reduced its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 72.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 33,700 shares of the financial services provider’s stock after selling 86,510 shares during the period. UniSuper Management Pty Ltd’s holdings in Manulife Financial were worth $1,035,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Crews Bank & Trust acquired a new position in Manulife Financial during the 4th quarter valued at about $26,000. Lee Danner & Bass Inc. purchased a new position in shares of Manulife Financial during the fourth quarter valued at approximately $31,000. Stonebridge Financial Group LLC bought a new stake in Manulife Financial during the fourth quarter worth $34,000. Golden State Wealth Management LLC purchased a new stake in Manulife Financial in the 4th quarter valued at $35,000. Finally, CKW Financial Group bought a new position in Manulife Financial during the 4th quarter valued at $37,000. 52.56% of the stock is owned by institutional investors.

Manulife Financial Price Performance

NYSE MFC opened at $31.17 on Tuesday. The business’s fifty day moving average is $30.15 and its 200-day moving average is $30.47. The stock has a market capitalization of $53.69 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a one year low of $22.61 and a one year 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, topping the consensus estimate of $0.67 by $0.07. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The business had revenue of $9.31 billion for the quarter. Research analysts expect that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.3094 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, March 5th. This represents a $1.24 annualized dividend and a yield of 3.97%. Manulife Financial’s dividend payout ratio is presently 58.45%.

Analyst Upgrades and Downgrades

MFC has been the subject of several recent analyst reports. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada upped their price objective on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $45.50.

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.