Natixis Advisors LLC Sells 94,395 Shares of Manulife Financial Corp $MFC

Natixis Advisors LLC cut its stake in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 35.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 170,697 shares of the financial services provider’s stock after selling 94,395 shares during the period. Natixis Advisors LLC’s holdings in Manulife Financial were worth $6,193,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Basepoint Wealth LLC acquired a new position in Manulife Financial in the fourth quarter valued at approximately $25,000. Hantz Financial Services Inc. acquired a new position in Manulife Financial in the fourth quarter valued at approximately $28,000. Blueline Advisors LLC acquired a new position in Manulife Financial in the fourth quarter valued at approximately $34,000. Wolff Wiese Magana LLC lifted its holdings in Manulife Financial by 269.2% in the fourth quarter. Wolff Wiese Magana LLC now owns 960 shares of the financial services provider’s stock valued at $35,000 after buying an additional 700 shares during the period. Finally, American Wealth Advisors LLC acquired a new position in Manulife Financial in the third quarter valued at approximately $36,000. 52.56% of the stock is owned by institutional investors.

Manulife Financial Stock Up 0.6%

Shares of MFC stock opened at $38.94 on Tuesday. Manulife Financial Corp has a 12-month low of $29.70 and a 12-month high of $40.40. The firm has a market capitalization of $64.98 billion, a price-to-earnings ratio of 15.45 and a beta of 0.84. The firm has a fifty day moving average of $37.88 and a 200-day moving average of $36.62.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, May 13th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.02). Manulife Financial had a net margin of 10.19% and a return on equity of 16.58%. The firm had revenue of $8.89 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period last year, the firm earned $0.99 EPS. Research analysts expect that Manulife Financial Corp will post 3.2 earnings per share for the current year.

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, May 29th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.94 annualized dividend and a dividend yield of 5.0%. Manulife Financial’s dividend payout ratio is currently 56.75%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MFC shares. TD Securities restated a “buy” rating on shares of Manulife Financial in a report on Thursday, May 14th. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a report on Wednesday, April 29th. Royal Bank Of Canada restated an “outperform” rating on shares of Manulife Financial in a report on Friday, February 13th. Finally, Weiss Ratings upgraded shares of Manulife Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $51.50.

About Manulife Financial

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.