Addenda Capital Inc. Has $43.71 Million Stake in Manulife Financial Co. (NYSE:MFC)

Addenda Capital Inc. lessened its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,423,384 shares of the financial services provider’s stock after selling 22,246 shares during the period. Manulife Financial accounts for 2.0% of Addenda Capital Inc.’s holdings, making the stock its 14th biggest holding. Addenda Capital Inc.’s holdings in Manulife Financial were worth $43,712,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in Manulife Financial during the 3rd quarter worth about $26,000. West Financial Advisors LLC acquired a new stake in Manulife Financial during the third quarter worth approximately $26,000. Capital Performance Advisors LLP bought a new stake in Manulife Financial in the third quarter worth approximately $30,000. Fortitude Family Office LLC acquired a new position in Manulife Financial in the third quarter valued at approximately $31,000. Finally, Tsfg LLC boosted its holdings in shares of Manulife Financial by 103.8% during the 3rd quarter. Tsfg LLC now owns 1,404 shares of the financial services provider’s stock worth $42,000 after buying an additional 715 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Down 0.8 %

NYSE:MFC opened at $30.58 on Tuesday. Manulife Financial Co. has a twelve month low of $20.78 and a twelve month high of $33.07. The company has a fifty day moving average of $31.32 and a 200-day moving average of $29.12. The firm has a market capitalization of $52.86 billion, a P/E ratio of 14.77, a P/E/G ratio of 1.05 and a beta of 1.09.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.30. The firm had revenue of $10.69 billion for the quarter, compared to analyst estimates of $9.73 billion. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. During the same quarter in the prior year, the business earned $0.69 earnings per share. On average, analysts anticipate that Manulife Financial Co. will post 2.69 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th were issued a dividend of $0.296 per share. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date was Wednesday, November 20th. This represents a $1.18 annualized dividend and a dividend yield of 3.87%. Manulife Financial’s payout ratio is currently 59.42%.

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.