Manulife Financial Co. (NYSE:MFC) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 0.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,143,543 shares of the financial services provider’s stock after selling 43,387 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Manulife Financial were worth $157,937,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. Royal Bank of Canada raised their target price on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $45.50.

Manulife Financial Stock Down 0.5 %

Shares of MFC stock opened at $29.23 on Friday. The stock has a market cap of $50.37 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a fifty-two week low of $22.61 and a fifty-two week high of $33.07. The firm’s 50 day moving average price is $30.25 and its two-hundred day moving average price is $30.09.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.07. The firm 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%. On average, equities analysts forecast that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.3094 per share. This represents a $1.24 dividend on an annualized basis and a yield of 4.23%. 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 payout ratio is 58.45%.

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.