Aviva PLC Has $61.46 Million Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Aviva PLC reduced its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,004,578 shares of the financial services provider’s stock after selling 105,563 shares during the period. Aviva PLC’s holdings in Manulife Financial were worth $61,459,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Little House Capital LLC raised its stake in Manulife Financial by 1.0% during the 4th quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider’s stock worth $1,037,000 after buying an additional 331 shares during the period. Robertson Stephens Wealth Management LLC lifted its holdings in shares of Manulife Financial by 1.5% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 23,068 shares of the financial services provider’s stock worth $708,000 after purchasing an additional 339 shares in the last quarter. Erste Asset Management GmbH grew its position in Manulife Financial by 0.6% in the 4th quarter. Erste Asset Management GmbH now owns 69,300 shares of the financial services provider’s stock valued at $2,133,000 after purchasing an additional 400 shares during the period. TIAA Trust National Association increased its stake in Manulife Financial by 5.0% during the 4th quarter. TIAA Trust National Association now owns 8,419 shares of the financial services provider’s stock valued at $259,000 after purchasing an additional 404 shares in the last quarter. Finally, Addison Advisors LLC raised its holdings in Manulife Financial by 45.9% during the fourth quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider’s stock worth $44,000 after buying an additional 449 shares during the last quarter. Institutional investors own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on MFC. Royal Bank of Canada boosted their target price on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Manulife Financial presently has a consensus rating of “Buy” and a consensus price target of $45.50.

Manulife Financial Price Performance

NYSE MFC opened at $27.79 on Friday. The company has a fifty day moving average price of $30.16 and a 200-day moving average price of $30.52. The firm has a market cap of $47.87 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 1.11 and a beta of 0.89. Manulife Financial Co. has a 1 year low of $22.61 and a 1 year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The business had revenue of $9.31 billion during the quarter. On average, research analysts anticipate that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a dividend of $0.3094 per share. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend was Wednesday, March 5th. Manulife Financial’s dividend payout ratio (DPR) is 58.45%.

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.