Manulife Financial Co. (NYSE:MFC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 53.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,500 shares of the financial services provider’s stock after selling 75,900 shares during the period. Principal Financial Group Inc.’s holdings in Manulife Financial were worth $1,938,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MFC. West Financial Advisors LLC acquired a new position in shares of Manulife Financial during the 3rd quarter worth $26,000. Brooklyn Investment Group purchased a new stake in Manulife Financial during the third quarter worth about $26,000. HHM Wealth Advisors LLC grew its position in Manulife Financial by 119.0% during the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock worth $29,000 after buying an additional 600 shares during the period. Addison Advisors LLC grew its position in Manulife Financial by 77.2% during the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock worth $29,000 after buying an additional 467 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in Manulife Financial in the third quarter valued at about $30,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Performance

MFC opened at $30.67 on Friday. The company has a market cap of $53.40 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 1.14 and a beta of 1.09. Manulife Financial Co. has a one year low of $20.78 and a one year high of $33.07. The business’s fifty day moving average is $31.30 and its two-hundred day moving average is $28.75.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.30. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The firm had revenue of $10.69 billion for the quarter, compared to analysts’ expectations of $9.73 billion. During the same period in the prior year, the company earned $0.69 EPS. On average, analysts predict that Manulife Financial Co. will post 2.72 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th were given a $0.296 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend was Wednesday, November 20th. Manulife Financial’s dividend payout ratio is currently 57.00%.

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.