O Shaughnessy Asset Management LLC decreased its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,435,072 shares of the financial services provider’s stock after selling 39,946 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Manulife Financial were worth $25,407,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. MUFG Americas Holdings Corp increased its stake in Manulife Financial by 61.0% during the 2nd quarter. MUFG Americas Holdings Corp now owns 8,343 shares of the financial services provider’s stock worth $150,000 after buying an additional 3,160 shares during the period. Private Advisor Group LLC grew its holdings in Manulife Financial by 12.8% during the 3rd quarter. Private Advisor Group LLC now owns 28,656 shares of the financial services provider’s stock worth $512,000 after acquiring an additional 3,257 shares in the last quarter. Daiwa SB Investments Ltd. grew its holdings in Manulife Financial by 1.4% during the 3rd quarter. Daiwa SB Investments Ltd. now owns 239,660 shares of the financial services provider’s stock worth $4,285,000 after acquiring an additional 3,330 shares in the last quarter. CLARET ASSET MANAGEMENT Corp grew its holdings in Manulife Financial by 3.4% during the 3rd quarter. CLARET ASSET MANAGEMENT Corp now owns 112,409 shares of the financial services provider’s stock worth $2,009,000 after acquiring an additional 3,709 shares in the last quarter. Finally, Barry Investment Advisors LLC grew its holdings in Manulife Financial by 1.9% during the 3rd quarter. Barry Investment Advisors LLC now owns 222,186 shares of the financial services provider’s stock worth $3,973,000 after acquiring an additional 4,038 shares in the last quarter. 46.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MFC stock opened at $16.90 on Friday. Manulife Financial Co. has a 1-year low of $14.99 and a 1-year high of $22.16. The firm has a market cap of $32.47 billion, a price-to-earnings ratio of 8.48, a P/E/G ratio of 0.81 and a beta of 1.31.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, November 7th. The financial services provider reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.25. Manulife Financial had a net margin of 4.22% and a return on equity of 12.69%. The business had revenue of $6.15 billion during the quarter. During the same period last year, the firm posted $0.53 earnings per share. Sell-side analysts predict that Manulife Financial Co. will post 2.03 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Tuesday, November 20th will be issued a $0.19 dividend. The ex-dividend date is Monday, November 19th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 4.50%. Manulife Financial’s payout ratio is 39.77%.

Several research analysts have weighed in on MFC shares. Zacks Investment Research lowered shares of Manulife Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. ValuEngine lowered shares of Manulife Financial from a “sell” rating to a “strong sell” rating in a report on Thursday, August 2nd. Desjardins reissued a “buy” rating on shares of Manulife Financial in a report on Tuesday, October 16th. TheStreet lowered shares of Manulife Financial from a “b-” rating to a “c+” rating in a report on Monday, October 15th. Finally, TD Securities reissued a “buy” rating on shares of Manulife Financial in a report on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. Manulife Financial currently has an average rating of “Buy” and an average target price of $25.67.

TRADEMARK VIOLATION NOTICE: This report was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another site, it was stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this report can be accessed at https://www.thecerbatgem.com/2018/11/10/o-shaughnessy-asset-management-llc-has-25-41-million-position-in-manulife-financial-co-mfc.html.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance through insurance agents, brokers, banks, financial planners, and direct marketing.

Featured Article: Leveraged Buyout (LBO)

Want to see what other hedge funds are holding MFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manulife Financial Co. (NYSE:MFC) (TSE:MFC).

Institutional Ownership by Quarter for Manulife Financial (NYSE:MFC)

Receive News & Ratings for Manulife Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manulife Financial and related companies with MarketBeat.com's FREE daily email newsletter.