Smartleaf Asset Management LLC Sells 5,541 Shares of Manulife Financial Co. (NYSE:MFC)

Smartleaf Asset Management LLC reduced its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 45.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 6,726 shares of the financial services provider’s stock after selling 5,541 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Manulife Financial were worth $206,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MFC. Brooklyn Investment Group bought a new stake in Manulife Financial during the 3rd quarter valued at $26,000. Crews Bank & Trust purchased a new position in shares of Manulife Financial during the fourth quarter valued at $26,000. Capital Performance Advisors LLP bought a new stake in shares of Manulife Financial in the 3rd quarter valued at about $30,000. Stonebridge Financial Group LLC purchased a new stake in shares of Manulife Financial in the 4th quarter worth approximately $34,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Manulife Financial during the fourth quarter valued at approximately $35,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Trading Up 2.8 %

NYSE MFC opened at $30.01 on Thursday. Manulife Financial Co. has a 12-month low of $22.61 and a 12-month high of $33.07. The firm’s fifty day simple moving average is $30.31 and its two-hundred day simple moving average is $30.08. The firm has a market capitalization of $51.71 billion, a P/E ratio of 14.50, a P/E/G ratio of 1.11 and a beta of 1.05.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.07. The company had revenue of $9.31 billion for the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. As a group, sell-side analysts predict that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.3094 dividend. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Wednesday, March 5th. Manulife Financial’s dividend payout ratio (DPR) is presently 58.45%.

Wall Street Analysts Forecast Growth

MFC has been the subject of a number of recent research reports. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada boosted their price target on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target 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.