Westerkirk Capital Inc. Sells 42,500 Shares of Manulife Financial Corp $MFC

Westerkirk Capital Inc. decreased its position in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 45.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,550 shares of the financial services provider’s stock after selling 42,500 shares during the quarter. Westerkirk Capital Inc.’s holdings in Manulife Financial were worth $1,877,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Basepoint Wealth LLC bought a new stake in Manulife Financial during the fourth quarter worth approximately $25,000. Hantz Financial Services Inc. bought a new stake in Manulife Financial during the fourth quarter worth approximately $28,000. Blueline Advisors LLC bought a new stake in Manulife Financial during the fourth quarter worth approximately $34,000. Wolff Wiese Magana LLC boosted its position in Manulife Financial by 269.2% during the fourth quarter. Wolff Wiese Magana LLC now owns 960 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 700 shares during the period. Finally, American Wealth Advisors LLC bought a new stake in Manulife Financial during the third quarter worth approximately $36,000. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Up 0.6%

NYSE:MFC opened at $38.94 on Tuesday. Manulife Financial Corp has a twelve month low of $29.70 and a twelve month high of $40.40. The stock’s 50 day moving average price is $37.88 and its two-hundred day moving average price is $36.62. The firm has a market capitalization of $64.98 billion, a price-to-earnings ratio of 15.45 and a beta of 0.84.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, May 13th. The financial services provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.02). Manulife Financial had a return on equity of 16.58% and a net margin of 10.19%.The business had revenue of $8.89 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the prior year, the firm posted $0.99 earnings per share. As a group, analysts anticipate that Manulife Financial Corp will post 3.2 earnings per share for the current year.

Manulife Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, May 29th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Friday, May 29th. Manulife Financial’s dividend payout ratio is presently 56.75%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Weiss Ratings upgraded Manulife Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, May 28th. Royal Bank Of Canada restated an “outperform” rating on shares of Manulife Financial in a research note on Friday, February 13th. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research note on Wednesday, April 29th. Finally, TD Securities restated a “buy” rating on shares of Manulife Financial in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price 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.