Twin Tree Management LP Sells 42,666 Shares of Manulife Financial Co. (NYSE:MFC)

Twin Tree Management LP cut its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 30.0% in the fourth quarter, HoldingsChannel reports. The firm owned 99,353 shares of the financial services provider’s stock after selling 42,666 shares during the period. Twin Tree Management LP’s holdings in Manulife Financial were worth $3,051,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Baron Wealth Management LLC boosted its holdings in Manulife Financial by 2.3% in the third quarter. Baron Wealth Management LLC now owns 14,400 shares of the financial services provider’s stock worth $426,000 after purchasing an additional 330 shares in the last quarter. Little House Capital LLC boosted its holdings in Manulife Financial by 1.0% during the fourth quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider’s stock valued at $1,037,000 after acquiring an additional 331 shares during the period. Robertson Stephens Wealth Management LLC boosted its holdings in Manulife Financial by 1.5% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 23,068 shares of the financial services provider’s stock valued at $708,000 after acquiring an additional 339 shares during the period. Erste Asset Management GmbH boosted its holdings in Manulife Financial by 0.6% during the fourth quarter. Erste Asset Management GmbH now owns 69,300 shares of the financial services provider’s stock valued at $2,133,000 after acquiring an additional 400 shares during the period. Finally, Addison Advisors LLC boosted 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 valued at $44,000 after acquiring an additional 449 shares during the period. 52.56% of the stock is currently owned by institutional investors.

Manulife Financial Stock Performance

Shares of MFC opened at $30.02 on Wednesday. The company has a 50-day simple moving average of $30.05 and a 200-day simple moving average of $30.25. The firm has a market capitalization of $51.70 billion, a P/E ratio of 14.50, a P/E/G ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a 52 week low of $22.61 and a 52 week high of $33.07.

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

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.3094 dividend. This represents a $1.24 annualized dividend and a yield of 4.12%. The ex-dividend date is Wednesday, March 5th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s dividend payout ratio is 58.45%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MFC. Royal Bank of Canada upped their price target on shares of Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. One research 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 company. According to data from MarketBeat.com, Manulife Financial has a consensus rating of “Buy” and an average target price of $45.50.

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.