Manulife Financial Co. (NYSE:MFC) Shares Sold by Larson Financial Group LLC

Larson Financial Group LLC lessened its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 94.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,403 shares of the financial services provider’s stock after selling 71,904 shares during the quarter. Larson Financial Group LLC’s holdings in Manulife Financial were worth $97,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

MFC has been the subject of several research analyst reports. BMO Capital Markets upgraded Manulife Financial from a “market perform” rating to an “outperform” rating and increased their target price for the company from $31.00 to $35.00 in a research note on Thursday, February 15th. Desjardins upgraded Manulife Financial from a “hold” rating to a “buy” rating 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 set a “buy” rating for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.33.

Manulife Financial Price Performance

Shares of MFC opened at $23.37 on Friday. The business’s fifty day moving average price is $24.02 and its 200 day moving average price is $21.58. Manulife Financial Co. has a 12-month low of $17.07 and a 12-month high of $25.14. The stock has a market capitalization of $42.09 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 0.87 and a beta of 1.08.

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

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a dividend yield of 5.10%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.26. The ex-dividend date was Tuesday, February 27th. Manulife Financial’s dividend payout ratio (DPR) is 61.66%.

About Manulife Financial

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.