Manulife Financial Co. (NYSE:MFC) Shares Sold by Lindbrook Capital LLC

Lindbrook Capital LLC cut its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 21.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,464 shares of the financial services provider’s stock after selling 680 shares during the period. Lindbrook Capital LLC’s holdings in Manulife Financial were worth $54,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Anchor Investment Management LLC acquired a new position in Manulife Financial during the fourth quarter valued at approximately $27,000. Goodman Advisory Group LLC acquired a new position in Manulife Financial during the fourth quarter valued at approximately $32,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Manulife Financial during the third quarter valued at approximately $27,000. Trust Co. of Vermont lifted its position in Manulife Financial by 478.5% during the third quarter. Trust Co. of Vermont now owns 1,533 shares of the financial services provider’s stock valued at $28,000 after buying an additional 1,268 shares in the last quarter. Finally, Arlington Trust Co LLC acquired a new position in Manulife Financial during the third quarter valued at approximately $29,000. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Stock Down 0.5 %

MFC opened at $23.37 on Friday. The firm has a market capitalization of $42.09 billion, a P/E ratio of 12.11, a P/E/G ratio of 0.87 and a beta of 1.08. The firm’s 50 day moving average is $24.02 and its 200-day moving average is $21.58. Manulife Financial Co. has a 52-week low of $17.07 and a 52-week high of $25.14.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. The business had revenue of $10.96 billion during the quarter, compared to analyst estimates of $7.57 billion. Manulife Financial had a net margin of 10.42% and a return on equity of 15.98%. Equities analysts expect that Manulife Financial Co. will post 2.71 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MFC shares. BMO Capital Markets raised shares of 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. Desjardins raised shares of Manulife Financial from a “hold” rating to a “buy” rating in a research report on Thursday, February 15th. Finally, Jefferies Financial Group started coverage on shares of Manulife Financial in a research note on Thursday, February 22nd. They set a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

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.