Manulife Financial Co. (NYSE:MFC) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board trimmed its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 233,764 shares of the financial services provider’s stock after selling 2,469 shares during the period. Public Sector Pension Investment Board’s holdings in Manulife Financial were worth $6,916,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. 1832 Asset Management L.P. raised its position in Manulife Financial by 34.3% in the second quarter. 1832 Asset Management L.P. now owns 19,723,609 shares of the financial services provider’s stock worth $525,042,000 after acquiring an additional 5,036,716 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Manulife Financial by 288.4% during the second quarter. Acadian Asset Management LLC now owns 3,943,509 shares of the financial services provider’s stock valued at $104,966,000 after purchasing an additional 2,928,316 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in Manulife Financial during the second quarter valued at approximately $35,806,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Manulife Financial by 1,210.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,161,059 shares of the financial services provider’s stock worth $30,922,000 after buying an additional 1,072,474 shares in the last quarter. Finally, Bridgewater Associates LP grew its position in Manulife Financial by 169.6% in the third quarter. Bridgewater Associates LP now owns 1,404,481 shares of the financial services provider’s stock worth $41,554,000 after buying an additional 883,624 shares during the last quarter. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Trading Up 0.8 %

Shares of MFC stock opened at $32.13 on Friday. Manulife Financial Co. has a 1-year low of $19.23 and a 1-year high of $33.07. The company has a market capitalization of $56.29 billion, a price-to-earnings ratio of 15.52, a P/E/G ratio of 1.17 and a beta of 1.08. The stock’s fifty day simple moving average is $30.73 and its 200-day simple moving average is $27.92.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, beating 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 firm had revenue of $10.69 billion for the quarter, compared to the consensus estimate of $9.73 billion. During the same period in the previous year, the firm posted $0.69 earnings per share. On average, sell-side analysts predict that Manulife Financial Co. will post 2.72 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.296 per share. This represents a $1.18 annualized dividend and a dividend yield of 3.69%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is currently 57.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MFC shares. Barclays began coverage on Manulife Financial in a research note on Thursday, September 5th. They set an “equal weight” rating for the company. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $37.50.

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.