Lincluden Management Ltd. Lowers Stake in Manulife Financial Co. (NYSE:MFC)

Lincluden Management Ltd. trimmed its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 14.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,153,282 shares of the financial services provider’s stock after selling 194,461 shares during the period. Manulife Financial accounts for approximately 4.3% of Lincluden Management Ltd.’s portfolio, making the stock its 8th largest holding. Lincluden Management Ltd.’s holdings in Manulife Financial were worth $35,429,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of MFC. Addison Advisors LLC grew its stake in shares of Manulife Financial by 45.9% during the 4th quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 449 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in Manulife Financial during the fourth quarter valued at about $138,000. Allianz Asset Management GmbH boosted its position in Manulife Financial by 5.9% during the fourth quarter. Allianz Asset Management GmbH now owns 1,861,773 shares of the financial services provider’s stock worth $57,166,000 after purchasing an additional 104,419 shares during the period. LMG Wealth Partners LLC increased its stake in shares of Manulife Financial by 6.8% in the fourth quarter. LMG Wealth Partners LLC now owns 55,363 shares of the financial services provider’s stock worth $1,700,000 after purchasing an additional 3,507 shares in the last quarter. Finally, Alberta Investment Management Corp raised its position in shares of Manulife Financial by 5.1% in the fourth quarter. Alberta Investment Management Corp now owns 4,896,049 shares of the financial services provider’s stock valued at $150,333,000 after purchasing an additional 236,808 shares during the period. 52.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada raised their price target on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Manulife Financial currently has an average rating of “Buy” and a consensus target price of $45.50.

Manulife Financial Trading Down 0.9 %

Shares of Manulife Financial stock opened at $30.10 on Tuesday. The company’s 50-day moving average price is $30.30 and its 200-day moving average price is $29.87. Manulife Financial Co. has a 12-month low of $22.61 and a 12-month high of $33.07. The company has a market cap of $51.87 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 1.11 and a beta of 1.09.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.07. The business had revenue of $9.31 billion for the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. On average, sell-side analysts predict that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.3094 per share. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, March 5th. This represents a $1.24 annualized dividend and a yield of 4.11%. Manulife Financial’s dividend payout ratio (DPR) is currently 58.45%.

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.