Atria Investments Inc Sells 12,654 Shares of Manulife Financial Co. (NYSE:MFC)

Atria Investments Inc cut its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 15.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,496 shares of the financial services provider’s stock after selling 12,654 shares during the period. Atria Investments Inc’s holdings in Manulife Financial were worth $2,165,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MFC. Farther Finance Advisors LLC boosted its stake in Manulife Financial by 40.8% during the third quarter. Farther Finance Advisors LLC now owns 3,328 shares of the financial services provider’s stock valued at $98,000 after buying an additional 964 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Manulife Financial in the 3rd quarter worth approximately $30,000. Leavell Investment Management Inc. purchased a new position in shares of Manulife Financial in the 3rd quarter worth approximately $201,000. Assetmark Inc. boosted its holdings in shares of Manulife Financial by 0.5% in the 3rd quarter. Assetmark Inc. now owns 573,960 shares of the financial services provider’s stock worth $16,961,000 after purchasing an additional 3,006 shares during the period. Finally, Alaska Wealth Advisors purchased a new position in shares of Manulife Financial in the 3rd quarter worth approximately $221,000. 52.56% of the stock is owned by institutional investors.

Manulife Financial Stock Down 0.5 %

MFC opened at $29.23 on Monday. The business has a fifty day moving average of $30.25 and a 200 day moving average of $30.15. Manulife Financial Co. has a 52-week low of $22.61 and a 52-week high of $33.07. The stock has a market cap of $50.37 billion, a P/E ratio of 14.12, a PEG ratio of 1.11 and a beta of 1.05.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.07. The company 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%. Equities analysts anticipate that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.3094 per share. The ex-dividend date is Wednesday, March 5th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 4.23%. Manulife Financial’s payout ratio is 58.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Royal Bank of Canada lifted their target price on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Scotiabank reiterated 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Manulife Financial presently has an average rating of “Buy” and a consensus 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.