Clearbridge Investments LLC Has $55.68 Million Stock Holdings in Manulife Financial Corp $MFC

Clearbridge Investments LLC trimmed its stake in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 3.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,534,757 shares of the financial services provider’s stock after selling 46,908 shares during the quarter. Clearbridge Investments LLC’s holdings in Manulife Financial were worth $55,681,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Hoge Financial Services LLC increased its position in Manulife Financial by 0.9% during the 4th quarter. Hoge Financial Services LLC now owns 31,975 shares of the financial services provider’s stock worth $1,160,000 after purchasing an additional 272 shares in the last quarter. Kathmere Capital Management LLC increased its position in Manulife Financial by 2.0% in the 4th quarter. Kathmere Capital Management LLC now owns 14,421 shares of the financial services provider’s stock valued at $523,000 after acquiring an additional 277 shares during the period. Americana Partners LLC increased its position in Manulife Financial by 0.5% in the 4th quarter. Americana Partners LLC now owns 59,081 shares of the financial services provider’s stock valued at $2,143,000 after acquiring an additional 295 shares during the period. Bridges Investment Management Inc. increased its position in Manulife Financial by 2.0% in the 4th quarter. Bridges Investment Management Inc. now owns 16,037 shares of the financial services provider’s stock valued at $582,000 after acquiring an additional 321 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Manulife Financial by 1.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,206 shares of the financial services provider’s stock valued at $987,000 after acquiring an additional 329 shares during the period. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MFC has been the subject of several recent research reports. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a research report on Wednesday, April 29th. Royal Bank Of Canada restated an “outperform” rating on shares of Manulife Financial in a research report on Friday, February 13th. TD Securities restated a “buy” rating on shares of Manulife Financial in a research report on Thursday, May 14th. Finally, Weiss Ratings upgraded shares of Manulife Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $51.50.

Manulife Financial Stock Up 0.6%

MFC opened at $38.94 on Tuesday. Manulife Financial Corp has a twelve month low of $29.70 and a twelve month high of $40.40. The company has a fifty day moving average of $37.88 and a 200-day moving average of $36.62. The stock has a market cap of $64.98 billion, a PE ratio of 15.45 and a beta of 0.84.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, May 13th. The financial services provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.02). Manulife Financial had a return on equity of 16.58% and a net margin of 10.19%.The firm had revenue of $8.89 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the company earned $0.99 earnings per share. Sell-side analysts anticipate that Manulife Financial Corp will post 3.2 EPS for the current fiscal year.

Manulife Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, May 29th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, May 29th. This represents a $1.94 annualized dividend and a dividend yield of 5.0%. Manulife Financial’s dividend payout ratio is 56.75%.

Manulife Financial Company Profile

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.