Mariner LLC Sells 15,910 Shares of Manulife Financial Co. (NYSE:MFC)

Mariner LLC lessened its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 8.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 176,663 shares of the financial services provider’s stock after selling 15,910 shares during the period. Mariner LLC’s holdings in Manulife Financial were worth $5,425,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Franklin Resources Inc. raised its stake in shares of Manulife Financial by 16.4% during the third quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider’s stock valued at $61,426,000 after acquiring an additional 279,418 shares during the last quarter. Dorsey & Whitney Trust CO LLC bought a new position in Manulife Financial during the 4th quarter worth $330,000. AEGON ASSET MANAGEMENT UK Plc lifted its holdings in Manulife Financial by 14.9% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 88,631 shares of the financial services provider’s stock worth $2,719,000 after buying an additional 11,509 shares during the period. Geode Capital Management LLC grew its position in shares of Manulife Financial by 28.7% in the 4th quarter. Geode Capital Management LLC now owns 10,650,598 shares of the financial services provider’s stock valued at $333,291,000 after buying an additional 2,377,338 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Manulife Financial by 60.4% in the fourth quarter. Prudential Financial Inc. now owns 36,200 shares of the financial services provider’s stock valued at $1,112,000 after buying an additional 13,638 shares during the period. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Price Performance

NYSE MFC opened at $28.60 on Friday. Manulife Financial Co. has a one year low of $22.96 and a one year high of $33.07. The business has a 50 day simple moving average of $29.73 and a 200 day simple moving average of $30.43. The stock has a market capitalization of $49.14 billion, a P/E ratio of 13.82, a P/E/G ratio of 1.11 and a beta of 0.89.

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

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.3094 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.24 annualized dividend and a dividend yield of 4.33%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s dividend payout ratio is currently 58.45%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Royal Bank of Canada lifted their price objective on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Scotiabank reaffirmed 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 company’s stock. According to MarketBeat, Manulife Financial currently has a consensus rating of “Buy” and a consensus 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.