Manulife Financial Co. (NYSE:MFC) Shares Sold by Duality Advisers LP

Duality Advisers LP cut its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 67.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,315 shares of the financial services provider’s stock after selling 50,041 shares during the period. Duality Advisers LP’s holdings in Manulife Financial were worth $537,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Manulife Financial by 1.5% in the third quarter. Vanguard Group Inc. now owns 71,526,674 shares of the financial services provider’s stock valued at $1,307,508,000 after purchasing an additional 1,086,776 shares during the period. Legal & General Group Plc grew its holdings in Manulife Financial by 4.2% during the third quarter. Legal & General Group Plc now owns 11,138,365 shares of the financial services provider’s stock worth $204,468,000 after acquiring an additional 446,444 shares during the period. JPMorgan Chase & Co. raised its position in Manulife Financial by 7.8% during the third quarter. JPMorgan Chase & Co. now owns 10,680,517 shares of the financial services provider’s stock valued at $195,240,000 after acquiring an additional 775,135 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Manulife Financial by 1.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,445,466 shares of the financial services provider’s stock valued at $172,663,000 after acquiring an additional 119,192 shares in the last quarter. Finally, AustralianSuper Pty Ltd raised its position in Manulife Financial by 11.2% during the fourth quarter. AustralianSuper Pty Ltd now owns 5,793,161 shares of the financial services provider’s stock valued at $128,019,000 after acquiring an additional 582,468 shares in the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on MFC. Jefferies Financial Group began coverage on Manulife Financial in a research report on Thursday, February 22nd. They set a “buy” rating for the company. BMO Capital Markets upgraded Manulife Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $31.00 to $35.00 in a research report on Thursday, February 15th. Finally, Desjardins upgraded Manulife Financial from a “hold” rating to a “buy” rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $33.33.

Manulife Financial Price Performance

Manulife Financial stock opened at $23.37 on Friday. The stock has a market capitalization of $42.09 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 0.87 and a beta of 1.08. Manulife Financial Co. has a 12 month low of $17.07 and a 12 month high of $25.14. The business has a 50 day simple moving average of $24.02 and a 200-day simple moving average of $21.58.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. The business had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $7.57 billion. Manulife Financial had a return on equity of 15.98% and a net margin of 10.42%. On average, equities research analysts anticipate that Manulife Financial Co. will post 2.71 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, February 28th were given a $0.298 dividend. The ex-dividend date was Tuesday, February 27th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.26. This represents a $1.19 dividend on an annualized basis and a dividend yield of 5.10%. Manulife Financial’s payout ratio is 61.66%.

Manulife Financial 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.