Manulife Financial Corp $MFC Shares Sold by Resources Management Corp CT ADV

Resources Management Corp CT ADV trimmed its position in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 65.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,745 shares of the financial services provider’s stock after selling 22,084 shares during the quarter. Resources Management Corp CT ADV’s holdings in Manulife Financial were worth $426,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. MML Investors Services LLC raised its holdings in shares of Manulife Financial by 1.6% in the 4th quarter. MML Investors Services LLC now owns 38,776 shares of the financial services provider’s stock valued at $1,407,000 after purchasing an additional 614 shares in the last quarter. Focus Partners Wealth raised its position in shares of Manulife Financial by 4.4% during the 4th quarter. Focus Partners Wealth now owns 796,837 shares of the financial services provider’s stock worth $28,876,000 after acquiring an additional 33,688 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Manulife Financial by 931.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,124,519 shares of the financial services provider’s stock worth $149,778,000 after acquiring an additional 3,724,519 shares in the last quarter. Arax Advisory Partners raised its position in shares of Manulife Financial by 30.3% during the 4th quarter. Arax Advisory Partners now owns 13,245 shares of the financial services provider’s stock worth $481,000 after acquiring an additional 3,077 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Manulife Financial by 82.6% during the 4th quarter. Barclays PLC now owns 1,694,987 shares of the financial services provider’s stock worth $61,494,000 after acquiring an additional 766,720 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Price Performance

NYSE MFC opened at $40.75 on Tuesday. The firm’s fifty day moving average price is $38.43 and its 200 day moving average price is $36.81. The company has a market capitalization of $68.00 billion, a price-to-earnings ratio of 16.17 and a beta of 0.84. Manulife Financial Corp has a 12 month low of $29.70 and a 12 month high of $40.86.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, May 13th. The financial services provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.02). The company had revenue of $8.89 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Manulife Financial had a net margin of 10.19% and a return on equity of 16.58%. During the same period last year, the business earned $0.99 earnings per share. As a group, sell-side analysts forecast that Manulife Financial Corp will post 3.2 earnings per share for the current year.

Manulife Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, May 29th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, May 29th. Manulife Financial’s dividend payout ratio (DPR) is 56.75%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MFC shares. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research report on Wednesday, April 29th. Weiss Ratings raised Manulife Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, May 28th. Finally, TD Securities reaffirmed a “buy” rating on shares of Manulife Financial in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to data from MarketBeat.com, Manulife Financial currently has an average rating of “Buy” and an average price target of $51.50.

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.