Advisors Asset Management Inc. Has $1.02 Million Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Advisors Asset Management Inc. reduced its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 15.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 34,559 shares of the financial services provider’s stock after selling 6,137 shares during the quarter. Advisors Asset Management Inc.’s holdings in Manulife Financial were worth $1,021,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Manulife Financial by 1,210.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,161,059 shares of the financial services provider’s stock worth $30,922,000 after purchasing an additional 1,072,474 shares during the period. Legal & General Group Plc lifted its stake in shares of Manulife Financial by 0.5% in the second quarter. Legal & General Group Plc now owns 14,783,400 shares of the financial services provider’s stock valued at $393,592,000 after buying an additional 75,244 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Manulife Financial by 3.2% during the second quarter. Toronto Dominion Bank now owns 24,057,503 shares of the financial services provider’s stock valued at $640,411,000 after buying an additional 750,422 shares during the last quarter. Sumitomo Life Insurance Co. bought a new stake in shares of Manulife Financial during the second quarter worth about $794,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Manulife Financial in the 3rd quarter worth about $956,000. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Trading Down 1.6 %

Shares of MFC opened at $31.96 on Tuesday. The stock has a 50 day moving average of $30.45 and a 200 day moving average of $27.76. The company has a market capitalization of $55.99 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 1.18 and a beta of 1.08. Manulife Financial Co. has a 12 month low of $19.20 and a 12 month high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.30. The company had revenue of $10.69 billion for the quarter, compared to analysts’ expectations of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same period in the previous year, the business posted $0.69 EPS. As a group, equities research analysts predict that Manulife Financial Co. will post 2.74 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.296 per share. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date is Wednesday, November 20th. Manulife Financial’s dividend payout ratio is currently 57.00%.

Wall Street Analyst Weigh In

A number of analysts have commented on MFC shares. Barclays began coverage on Manulife Financial in a report on Thursday, September 5th. They set an “equal weight” rating for the company. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $37.50.

Manulife Financial 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.