Manulife Financial Co. (NYSE:MFC) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lessened its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 12.2% in the 4th quarter, Holdings Channel reports. The fund owned 6,825,398 shares of the financial services provider’s stock after selling 945,283 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Manulife Financial were worth $209,607,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. First Trust Advisors LP grew its position in shares of Manulife Financial by 3.6% in the fourth quarter. First Trust Advisors LP now owns 349,842 shares of the financial services provider’s stock valued at $10,746,000 after purchasing an additional 12,256 shares in the last quarter. Commerce Bank grew its holdings in Manulife Financial by 17.6% in the 4th quarter. Commerce Bank now owns 16,106 shares of the financial services provider’s stock valued at $495,000 after buying an additional 2,410 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Manulife Financial by 2.4% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 3,274,389 shares of the financial services provider’s stock worth $100,386,000 after acquiring an additional 75,735 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Manulife Financial by 42.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 7,427,745 shares of the financial services provider’s stock worth $227,895,000 after acquiring an additional 2,200,000 shares during the period. Finally, NewEdge Advisors LLC boosted its position in shares of Manulife Financial by 42.2% during the 4th quarter. NewEdge Advisors LLC now owns 32,193 shares of the financial services provider’s stock valued at $989,000 after acquiring an additional 9,551 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on MFC. Royal Bank of Canada lifted their target price on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $45.50.

Manulife Financial Price Performance

NYSE MFC opened at $29.21 on Wednesday. Manulife Financial Co. has a 12 month low of $22.96 and a 12 month high of $33.07. The stock has a market capitalization of $50.18 billion, a P/E ratio of 14.11, a PEG ratio of 1.11 and a beta of 0.89. The firm’s 50-day moving average is $29.70 and its two-hundred day moving average is $30.41.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. The firm had revenue of $9.31 billion during the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. As a group, analysts anticipate that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.3094 dividend. The ex-dividend date was Wednesday, March 5th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.24%. Manulife Financial’s payout ratio is presently 58.45%.

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.