Manulife Financial Co. (NYSE:MFC) Shares Sold by DORCHESTER WEALTH MANAGEMENT Co

DORCHESTER WEALTH MANAGEMENT Co cut its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 459,423 shares of the financial services provider’s stock after selling 6,639 shares during the period. Manulife Financial accounts for about 2.8% of DORCHESTER WEALTH MANAGEMENT Co’s investment portfolio, making the stock its 9th biggest holding. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Manulife Financial were worth $13,994,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Crews Bank & Trust acquired a new stake in shares of Manulife Financial in the fourth quarter valued at approximately $26,000. Brooklyn Investment Group acquired a new stake in shares of Manulife Financial in the third quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new stake in shares of Manulife Financial in the third quarter valued at approximately $30,000. Fortitude Family Office LLC acquired a new stake in shares of Manulife Financial in the third quarter valued at approximately $31,000. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of Manulife Financial in the fourth quarter valued at approximately $34,000. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Trading Down 4.6 %

NYSE:MFC opened at $30.36 on Friday. The stock has a market cap of $52.32 billion, a P/E ratio of 14.67, a PEG ratio of 1.11 and a beta of 1.09. The stock has a 50 day simple moving average of $30.32 and a 200 day simple moving average of $29.79. 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 released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.07. The business had revenue of $9.31 billion during the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. As a group, sell-side analysts forecast that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.3094 per share. This represents a $1.24 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend 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 (DPR) is 59.42%.

Wall Street Analyst Weigh In

MFC has been the subject of a number of recent analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. Royal Bank of Canada lifted 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 analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently 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.