Mitchell & Pahl Private Wealth LLC Cuts Stock Position in Manulife Financial Co. (NYSE:MFC)

Mitchell & Pahl Private Wealth LLC lowered its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 8.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,372 shares of the financial services provider’s stock after selling 706 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in Manulife Financial were worth $226,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Mercer Global Advisors Inc. ADV increased its holdings in shares of Manulife Financial by 5.5% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 30,456 shares of the financial services provider’s stock worth $811,000 after purchasing an additional 1,589 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of Manulife Financial by 14.3% in the 2nd quarter. Blair William & Co. IL now owns 25,271 shares of the financial services provider’s stock worth $673,000 after buying an additional 3,171 shares during the last quarter. Evergreen Capital Management LLC boosted its stake in shares of Manulife Financial by 13.0% in the 2nd quarter. Evergreen Capital Management LLC now owns 25,608 shares of the financial services provider’s stock worth $682,000 after buying an additional 2,954 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Manulife Financial by 1,210.7% in the 2nd 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 during the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new position in shares of Manulife Financial in the 2nd quarter worth $35,806,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Up 0.7 %

Shares of Manulife Financial stock opened at $30.84 on Wednesday. The stock’s 50-day simple moving average is $31.28 and its 200-day simple moving average is $29.15. Manulife Financial Co. has a 52 week low of $21.24 and a 52 week high of $33.07. The company has a market capitalization of $53.31 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.05 and a beta of 1.09.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The firm had revenue of $10.69 billion for the quarter, compared to analysts’ expectations of $9.73 billion. During the same period in the previous year, the firm posted $0.69 earnings per share. On average, equities analysts expect that Manulife Financial Co. will post 2.69 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th were issued a dividend of $0.296 per share. The ex-dividend date was Wednesday, November 20th. This represents a $1.18 dividend on an annualized basis and a yield of 3.84%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s dividend payout ratio is currently 59.42%.

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.