Manulife Financial Co. (NYSE:MFC) Stock Position Reduced by Caprock Group LLC

Caprock Group LLC cut its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 5.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,240 shares of the financial services provider’s stock after selling 2,930 shares during the period. Caprock Group LLC’s holdings in Manulife Financial were worth $1,455,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Baron Wealth Management LLC grew its position in Manulife Financial by 2.3% during the third quarter. Baron Wealth Management LLC now owns 14,400 shares of the financial services provider’s stock valued at $426,000 after purchasing an additional 330 shares in the last quarter. Americana Partners LLC lifted its stake in Manulife Financial by 0.5% in the third quarter. Americana Partners LLC now owns 69,967 shares of the financial services provider’s stock valued at $2,068,000 after acquiring an additional 364 shares during the last quarter. Indiana Trust & Investment Management CO lifted its stake in Manulife Financial by 22.2% in the second quarter. Indiana Trust & Investment Management CO now owns 2,540 shares of the financial services provider’s stock valued at $68,000 after acquiring an additional 462 shares during the last quarter. Addison Advisors LLC lifted its stake in Manulife Financial by 77.2% in the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 467 shares during the last quarter. Finally, LRI Investments LLC lifted its stake in Manulife Financial by 8.6% in the second quarter. LRI Investments LLC now owns 6,819 shares of the financial services provider’s stock valued at $182,000 after acquiring an additional 542 shares during the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MFC has been the subject of a number of analyst reports. Barclays initiated coverage on shares of Manulife Financial in a research note 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 note on Thursday, August 8th. One 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. Based on data from MarketBeat, Manulife Financial currently has an average rating of “Buy” and a consensus target price of $37.50.

Manulife Financial Trading Down 0.3 %

Shares of Manulife Financial stock opened at $32.19 on Thursday. The firm has a fifty day simple moving average of $30.20 and a 200-day simple moving average of $27.58. Manulife Financial Co. has a 1-year low of $18.91 and a 1-year high of $33.07. The stock has a market capitalization of $56.39 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 1.19 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, topping 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 business had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $9.73 billion. During the same period in the previous year, the company earned $0.69 earnings per share. As a group, 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. Investors of record on Wednesday, November 20th will be paid a dividend of $0.296 per share. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a yield of 3.68%. The ex-dividend date is Wednesday, November 20th. Manulife Financial’s dividend payout ratio is presently 56.04%.

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.