First Affirmative Financial Network Sells 502 Shares of Manulife Financial Co. (NYSE:MFC)

First Affirmative Financial Network lessened its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 5.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,905 shares of the financial services provider’s stock after selling 502 shares during the quarter. First Affirmative Financial Network’s holdings in Manulife Financial were worth $273,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. increased its stake in shares of Manulife Financial by 8.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 76,512 shares of the financial services provider’s stock valued at $2,037,000 after acquiring an additional 5,891 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in Manulife Financial by 20.7% in the second quarter. B. Riley Wealth Advisors Inc. now owns 12,913 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 2,213 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in Manulife Financial in the second quarter worth $281,000. Cetera Investment Advisers boosted its position in shares of Manulife Financial by 5.5% during the second quarter. Cetera Investment Advisers now owns 152,865 shares of the financial services provider’s stock worth $4,068,000 after purchasing an additional 8,011 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of Manulife Financial in the 2nd quarter valued at $784,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Trading Up 0.3 %

Shares of Manulife Financial stock opened at $30.48 on Friday. The stock’s fifty day simple moving average is $31.00 and its 200 day simple moving average is $29.31. The company has a market capitalization of $52.70 billion, a PE ratio of 14.73, a PEG ratio of 1.05 and a beta of 1.09. Manulife Financial Co. has a 12 month low of $21.54 and a 12 month high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released 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. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The business had revenue of $10.69 billion for the quarter, compared to analysts’ expectations of $9.73 billion. During the same quarter in the previous year, the business posted $0.69 EPS. Analysts predict that Manulife Financial Co. will post 2.67 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th were given 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 of this dividend was Wednesday, November 20th. This represents a $1.18 annualized dividend and a dividend yield of 3.88%. Manulife Financial’s dividend 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.