Tacita Capital Inc Sells 2,163 Shares of Manulife Financial Co. (NYSE:MFC)

Tacita Capital Inc reduced its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 6.9% during the 4th quarter, Holdings Channel reports. The fund owned 29,213 shares of the financial services provider’s stock after selling 2,163 shares during the period. Tacita Capital Inc’s holdings in Manulife Financial were worth $895,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of MFC. International Assets Investment Management LLC bought a new position in Manulife Financial in the 3rd quarter valued at about $956,000. Farther Finance Advisors LLC raised its holdings in Manulife Financial by 40.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,328 shares of the financial services provider’s stock valued at $98,000 after acquiring an additional 964 shares during the period. Van ECK Associates Corp raised its holdings in Manulife Financial by 29.3% in the 3rd quarter. Van ECK Associates Corp now owns 343,736 shares of the financial services provider’s stock valued at $10,325,000 after acquiring an additional 77,864 shares during the period. Crestwood Advisors Group LLC raised its holdings in Manulife Financial by 0.6% in the 3rd quarter. Crestwood Advisors Group LLC now owns 440,436 shares of the financial services provider’s stock valued at $13,015,000 after acquiring an additional 2,738 shares during the period. Finally, Foster & Motley Inc. raised its holdings in Manulife Financial by 1.1% in the 3rd quarter. Foster & Motley Inc. now owns 330,254 shares of the financial services provider’s stock valued at $9,759,000 after acquiring an additional 3,714 shares during the period. 52.56% of the stock is owned by institutional investors.

Manulife Financial Trading Down 1.8 %

Shares of MFC opened at $30.61 on Tuesday. Manulife Financial Co. has a 12 month low of $22.61 and a 12 month high of $33.07. The firm’s 50 day moving average is $30.35 and its 200-day moving average is $30.05. The stock has a market capitalization of $52.75 billion, a PE ratio of 14.79, a P/E/G ratio of 1.11 and a beta of 1.09.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly 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%. Equities research analysts predict that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company 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 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 dividend yield of 4.04%. Manulife Financial’s dividend payout ratio (DPR) is currently 58.45%.

Analysts Set New Price Targets

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

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.