Guardian Capital LP Trims Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Guardian Capital LP lowered its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 12.3% during the 4th quarter, HoldingsChannel reports. The fund owned 1,079,267 shares of the financial services provider’s stock after selling 151,612 shares during the period. Manulife Financial comprises 1.2% of Guardian Capital LP’s portfolio, making the stock its 22nd biggest holding. Guardian Capital LP’s holdings in Manulife Financial were worth $33,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Barclays PLC boosted its stake in Manulife Financial by 60.1% in the 3rd quarter. Barclays PLC now owns 741,764 shares of the financial services provider’s stock worth $21,919,000 after purchasing an additional 278,307 shares during the period. Invst LLC lifted its holdings in shares of Manulife Financial by 24.8% in the third quarter. Invst LLC now owns 19,929 shares of the financial services provider’s stock worth $589,000 after buying an additional 3,964 shares in the last quarter. World Investment Advisors LLC boosted its position in shares of Manulife Financial by 30.1% in the third quarter. World Investment Advisors LLC now owns 12,351 shares of the financial services provider’s stock valued at $365,000 after acquiring an additional 2,860 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Manulife Financial during the third quarter valued at approximately $119,000. Finally, Franklin Resources Inc. increased its holdings in Manulife Financial by 16.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider’s stock worth $61,426,000 after acquiring an additional 279,418 shares during the period. 52.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Manulife Financial Stock Performance

Manulife Financial stock opened at $30.70 on Wednesday. Manulife Financial Co. has a fifty-two week low of $23.27 and a fifty-two week high of $33.07. The stock has a market cap of $52.75 billion, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 1.11 and a beta of 0.89. The firm’s fifty day moving average price is $29.71 and its 200-day moving average price is $30.42.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.07. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The business had revenue of $9.31 billion for the quarter. On average, analysts predict 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 was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given 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 dividend on an annualized basis and a yield of 4.03%. Manulife Financial’s payout ratio is presently 58.45%.

Manulife Financial Company 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.