Manulife Financial Co. (NYSE:MFC) Shares Sold by UMB Bank n.a.

UMB Bank n.a. trimmed its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 12.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,136 shares of the financial services provider’s stock after selling 1,153 shares during the quarter. UMB Bank n.a.’s holdings in Manulife Financial were worth $240,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MFC. CWM LLC increased its stake in shares of Manulife Financial by 18.2% in the 3rd quarter. CWM LLC now owns 15,072 shares of the financial services provider’s stock valued at $445,000 after purchasing an additional 2,326 shares in the last quarter. West Financial Advisors LLC acquired a new stake in Manulife Financial in the third quarter valued at approximately $26,000. Daymark Wealth Partners LLC increased its position in shares of Manulife Financial by 1.7% in the third quarter. Daymark Wealth Partners LLC now owns 34,886 shares of the financial services provider’s stock valued at $1,031,000 after buying an additional 596 shares in the last quarter. Atomi Financial Group Inc. increased its position in shares of Manulife Financial by 4.3% in the third quarter. Atomi Financial Group Inc. now owns 20,225 shares of the financial services provider’s stock valued at $598,000 after buying an additional 836 shares in the last quarter. Finally, Goelzer Investment Management Inc. purchased a new position in shares of Manulife Financial during the 3rd quarter valued at approximately $214,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Up 1.0 %

Shares of NYSE MFC opened at $30.39 on Friday. The stock has a market capitalization of $54.39 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 1.09 and a beta of 1.08. Manulife Financial Co. has a 52 week low of $17.07 and a 52 week high of $30.52. The firm has a 50-day simple moving average of $27.66 and a 200-day simple moving average of $26.19.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.27. The business had revenue of $9.41 billion for the quarter, compared to analyst estimates of $8.95 billion. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. During the same period last year, the company posted $0.62 EPS. As a group, equities research analysts expect that Manulife Financial Co. will post 2.73 EPS for the current year.

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date was Wednesday, August 21st. Manulife Financial’s dividend payout ratio (DPR) is currently 66.86%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Barclays began coverage on shares of Manulife Financial in a report on Thursday, September 5th. They issued an “equal weight” rating for the company. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, TD Securities lifted their price objective on Manulife Financial from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, June 28th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Manulife Financial presently has an average rating of “Buy” and an average target price of $35.67.

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.