SG Americas Securities LLC Sells 11,164 Shares of Manulife Financial Corp $MFC

SG Americas Securities LLC decreased its position in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 21.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,276 shares of the financial services provider’s stock after selling 11,164 shares during the period. SG Americas Securities LLC’s holdings in Manulife Financial were worth $1,287,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MFC. Foundations Investment Advisors LLC grew its stake in Manulife Financial by 7.2% in the second quarter. Foundations Investment Advisors LLC now owns 7,058 shares of the financial services provider’s stock valued at $226,000 after acquiring an additional 472 shares during the period. Fiera Capital Corp grew its position in shares of Manulife Financial by 23.4% in the 2nd quarter. Fiera Capital Corp now owns 19,898 shares of the financial services provider’s stock valued at $636,000 after purchasing an additional 3,772 shares during the period. MV Capital Management Inc. bought a new stake in Manulife Financial during the 2nd quarter worth approximately $113,000. Candriam S.C.A. raised its holdings in Manulife Financial by 13.3% during the 2nd quarter. Candriam S.C.A. now owns 626,180 shares of the financial services provider’s stock worth $19,981,000 after buying an additional 73,553 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Manulife Financial by 19.4% during the second quarter. Geode Capital Management LLC now owns 14,008,595 shares of the financial services provider’s stock worth $453,798,000 after acquiring an additional 2,276,251 shares during the period. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Up 2.0%

MFC stock opened at $34.54 on Friday. The company has a market cap of $58.20 billion, a price-to-earnings ratio of 15.42, a P/E/G ratio of 1.13 and a beta of 0.98. Manulife Financial Corp has a twelve month low of $25.92 and a twelve month high of $35.57. The business has a 50 day moving average price of $32.38 and a two-hundred day moving average price of $31.55.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, November 12th. The financial services provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.74 by $0.10. The company had revenue of $12.90 billion during the quarter. Manulife Financial had a return on equity of 15.77% and a net margin of 10.46%.During the same period in the previous year, the company posted $1.00 EPS. On average, equities research analysts anticipate that Manulife Financial Corp will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Wednesday, November 26th will be given a $0.44 dividend. This is a boost from Manulife Financial’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.1%. Manulife Financial’s payout ratio is 55.56%.

Wall Street Analysts Forecast Growth

MFC has been the topic of several recent research reports. UBS Group started coverage on Manulife Financial in a research note on Thursday, October 16th. They issued a “buy” rating on the stock. Weiss Ratings lowered Manulife Financial from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday. Royal Bank Of Canada boosted their target price on Manulife Financial from $49.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, November 14th. Morgan Stanley set a $47.00 price target on shares of Manulife Financial in a research note on Tuesday, October 7th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Manulife Financial in a research report on Friday, November 14th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $49.50.

About Manulife Financial

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.