Tacita Capital Inc Has $895,000 Holdings in Manulife Financial Co. (NYSE:MFC)

Tacita Capital Inc cut its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,213 shares of the financial services provider’s stock after selling 2,163 shares during the period. Tacita Capital Inc’s holdings in Manulife Financial were worth $895,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Baron Wealth Management LLC boosted its stake in Manulife Financial by 2.3% in the 3rd quarter. Baron Wealth Management LLC now owns 14,400 shares of the financial services provider’s stock worth $426,000 after purchasing an additional 330 shares during the period. Little House Capital LLC boosted its stake in Manulife Financial by 1.0% in the 4th quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider’s stock worth $1,037,000 after purchasing an additional 331 shares during the period. Robertson Stephens Wealth Management LLC boosted its stake in Manulife Financial by 1.5% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 23,068 shares of the financial services provider’s stock worth $708,000 after purchasing an additional 339 shares during the period. Addison Advisors LLC boosted its stake in Manulife Financial by 45.9% in the 4th quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 449 shares during the period. Finally, Nicholas Hoffman & Company LLC. boosted its stake in shares of Manulife Financial by 3.4% during the 4th quarter. Nicholas Hoffman & Company LLC. now owns 15,817 shares of the financial services provider’s stock worth $486,000 after buying an additional 516 shares during the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Price Performance

Manulife Financial stock opened at $30.61 on Tuesday. The firm has a 50-day moving average of $30.35 and a 200-day moving average of $30.05. The company has a market cap of $52.75 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 1.11 and a beta of 1.09. Manulife Financial Co. has a one year low of $22.61 and a one year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.07. The company had revenue of $9.31 billion for the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. As a group, sell-side analysts expect 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 will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a $0.3094 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.04%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, March 5th. Manulife Financial’s dividend payout ratio is presently 58.45%.

Analyst Upgrades and Downgrades

MFC has been the subject of a number of recent research reports. Royal Bank of Canada increased their price objective 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 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 issued a strong buy rating to the stock. According to MarketBeat, Manulife Financial presently has an average rating of “Buy” and an average target price of $45.50.

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.