Metis Global Partners LLC reduced its stake in shares of Manulife Financial Co. (NYSE:MFC – Get Rating) (TSE:MFC) by 13.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 61,724 shares of the financial services provider's stock after selling 9,885 shares during the period. Metis Global Partners LLC's holdings in Manulife Financial were worth $969,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Altrius Capital Management Inc boosted its holdings in Manulife Financial by 40.2% during the third quarter. Altrius Capital Management Inc now owns 307,877 shares of the financial services provider's stock worth $4,824,000 after buying an additional 88,263 shares in the last quarter. Hennessy Advisors Inc. boosted its stake in shares of Manulife Financial by 1.1% during the 3rd quarter. Hennessy Advisors Inc. now owns 292,000 shares of the financial services provider's stock worth $4,576,000 after acquiring an additional 3,100 shares in the last quarter. Signaturefd LLC increased its stake in Manulife Financial by 4.2% in the 3rd quarter. Signaturefd LLC now owns 37,431 shares of the financial services provider's stock valued at $587,000 after purchasing an additional 1,504 shares in the last quarter. D.A. Davidson & CO. raised its holdings in Manulife Financial by 2.7% during the third quarter. D.A. Davidson & CO. now owns 58,765 shares of the financial services provider's stock worth $921,000 after purchasing an additional 1,534 shares during the last quarter. Finally, Commerce Bank purchased a new stake in Manulife Financial during the third quarter worth $170,000. 43.42% of the stock is owned by institutional investors and hedge funds.
Get Manulife Financial alerts:Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on the company. Credit Suisse Group assumed coverage on Manulife Financial in a research note on Thursday, January 12th. They set a "neutral" rating for the company. Scotiabank increased their price target on shares of Manulife Financial from C$27.00 to C$34.00 in a research report on Monday, January 30th. StockNews.com initiated coverage on Manulife Financial in a research report on Wednesday, October 12th. They set a "hold" rating for the company. Barclays lowered their target price on Manulife Financial from C$30.00 to C$29.00 in a report on Wednesday, October 12th. Finally, CIBC boosted their price target on Manulife Financial from C$23.00 to C$27.00 in a report on Wednesday, January 25th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $29.75.
Manulife Financial Stock Down 0.7 %
MFC stock opened at $19.57 on Friday. The stock has a market capitalization of $36.50 billion, a price-to-earnings ratio of 6.66, a price-to-earnings-growth ratio of 0.83 and a beta of 1.15. Manulife Financial Co. has a 52-week low of $14.92 and a 52-week high of $22.19. The stock's fifty day simple moving average is $18.34 and its 200-day simple moving average is $17.58.Manulife Financial (NYSE:MFC – Get Rating) (TSE:MFC) last issued its quarterly earnings results on Wednesday, November 9th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.02). The business had revenue of $5.96 billion during the quarter, compared to analysts' expectations of $11.51 billion. As a group, analysts anticipate that Manulife Financial Co. will post 2.24 earnings per share for the current fiscal year.
Manulife Financial Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, December 19th. Shareholders of record on Tuesday, November 22nd were paid a dividend of $0.242 per share. This represents a $0.97 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date of this dividend was Monday, November 21st. Manulife Financial's dividend payout ratio is currently 32.99%.
Manulife Financial Profile
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Manulife Financial Corp. engages in the provision of financial services. It operates through the following segments: Asia, Canada, U.S., Global Wealth and Asset Management, and Corporate and Other. The Asia segment refers to insurance and insurance-based wealth accumulation products in Asia. The Canada segment offers insurance-based wealth accumulation products and banking services in Canada.
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