Natixis Advisors LLC Sells 32,267 Shares of Manulife Financial Co. (NYSE:MFC)

Natixis Advisors LLC reduced its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 8.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 345,538 shares of the financial services provider’s stock after selling 32,267 shares during the quarter. Natixis Advisors LLC’s holdings in Manulife Financial were worth $10,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Franklin Resources Inc. grew its stake in Manulife Financial by 16.4% during the third quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider’s stock valued at $61,426,000 after acquiring an additional 279,418 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Manulife Financial by 148.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 73,346 shares of the financial services provider’s stock valued at $2,382,000 after purchasing an additional 43,877 shares during the last quarter. Dorsey & Whitney Trust CO LLC purchased a new position in shares of Manulife Financial during the fourth quarter valued at about $330,000. AEGON ASSET MANAGEMENT UK Plc increased its holdings in shares of Manulife Financial by 14.9% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 88,631 shares of the financial services provider’s stock worth $2,719,000 after purchasing an additional 11,509 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Manulife Financial by 4.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,809,774 shares of the financial services provider’s stock worth $55,578,000 after buying an additional 81,799 shares in the last quarter. Institutional investors own 52.56% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Royal Bank of Canada raised their price target on Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $45.50.

Manulife Financial Price Performance

NYSE:MFC opened at $30.51 on Thursday. The firm has a market capitalization of $52.56 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 1.11 and a beta of 1.05. The business has a 50 day simple moving average of $30.04 and a 200-day simple moving average of $30.25. 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 posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.67 by $0.07. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The company had revenue of $9.31 billion during the quarter. As a group, analysts expect that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.3094 dividend. 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 4.06%. The ex-dividend date was Wednesday, March 5th. Manulife Financial’s dividend payout ratio is 58.45%.

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.