Signaturefd LLC Sells 1,603 Shares of Manulife Financial Co. (NYSE:MFC)

Signaturefd LLC lowered its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,604 shares of the financial services provider’s stock after selling 1,603 shares during the quarter. Signaturefd LLC’s holdings in Manulife Financial were worth $1,052,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Manulife Financial during the 3rd quarter worth $27,000. Anchor Investment Management LLC bought a new stake in shares of Manulife Financial in the 4th quarter valued at about $27,000. Trust Co. of Vermont lifted its position in shares of Manulife Financial by 478.5% in the 3rd quarter. Trust Co. of Vermont now owns 1,533 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 1,268 shares during the period. Arlington Trust Co LLC bought a new position in shares of Manulife Financial during the third quarter valued at approximately $29,000. Finally, NBC Securities Inc. purchased a new position in Manulife Financial during the third quarter valued at approximately $32,000. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Price Performance

Shares of MFC stock opened at $23.46 on Tuesday. The company has a market cap of $42.25 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 0.85 and a beta of 1.08. The stock’s fifty day moving average price is $24.01 and its 200 day moving average price is $21.52. Manulife Financial Co. has a 1-year low of $17.07 and a 1-year high of $25.14.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.05. The firm had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $7.57 billion. Manulife Financial had a net margin of 10.42% and a return on equity of 15.98%. As a group, equities research analysts anticipate that Manulife Financial Co. will post 2.71 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, February 28th were paid a dividend of $0.298 per share. This is an increase from Manulife Financial’s previous quarterly dividend of $0.26. This represents a $1.19 annualized dividend and a dividend yield of 5.08%. The ex-dividend date was Tuesday, February 27th. Manulife Financial’s payout ratio is presently 61.66%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MFC. Desjardins raised shares of Manulife Financial from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. BMO Capital Markets upgraded Manulife Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $31.00 to $35.00 in a research note on Thursday, February 15th. Finally, Jefferies Financial Group initiated coverage on Manulife Financial in a research note on Thursday, February 22nd. They issued 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.