Foster & Motley Inc. Sells 3,992 Shares of Manulife Financial Co. (NYSE:MFC)

Foster & Motley Inc. trimmed its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 326,262 shares of the financial services provider’s stock after selling 3,992 shares during the quarter. Foster & Motley Inc.’s holdings in Manulife Financial were worth $10,020,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. National Bank of Canada FI lifted its stake in shares of Manulife Financial by 13.5% in the third quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider’s stock worth $829,374,000 after acquiring an additional 3,329,892 shares during the period. Bridgewater Associates LP lifted its position in shares of Manulife Financial by 169.6% in the 3rd quarter. Bridgewater Associates LP now owns 1,404,481 shares of the financial services provider’s stock worth $41,554,000 after purchasing an additional 883,624 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Manulife Financial by 1,067.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 686,418 shares of the financial services provider’s stock valued at $21,080,000 after purchasing an additional 627,614 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Manulife Financial by 8.1% during the third quarter. Geode Capital Management LLC now owns 8,273,260 shares of the financial services provider’s stock worth $247,473,000 after buying an additional 616,517 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Manulife Financial during the third quarter worth $17,412,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Trading Up 0.5 %

Shares of MFC opened at $30.38 on Thursday. The firm’s fifty day simple moving average is $31.03 and its two-hundred day simple moving average is $29.30. Manulife Financial Co. has a 12 month low of $21.54 and a 12 month high of $33.07. The stock has a market capitalization of $52.51 billion, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 1.05 and a beta of 1.09.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 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 business had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $9.73 billion. During the same quarter last year, the firm posted $0.69 earnings per share. As a group, research analysts predict that Manulife Financial Co. will post 2.69 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, November 20th were given a dividend of $0.296 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date was Wednesday, November 20th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s payout ratio is presently 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.