DORCHESTER WEALTH MANAGEMENT Co Lowers Stake in Manulife Financial Co. (NYSE:MFC)

DORCHESTER WEALTH MANAGEMENT Co lessened its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 459,423 shares of the financial services provider’s stock after selling 6,639 shares during the period. Manulife Financial comprises 2.8% of DORCHESTER WEALTH MANAGEMENT Co’s investment portfolio, making the stock its 9th largest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Manulife Financial were worth $13,994,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Brooklyn Investment Group bought a new position in shares of Manulife Financial in the 3rd quarter valued at $26,000. Crews Bank & Trust bought a new position in shares of Manulife Financial in the 4th quarter valued at $26,000. Capital Performance Advisors LLP bought a new position in shares of Manulife Financial in the 3rd quarter valued at $30,000. Fortitude Family Office LLC bought a new position in shares of Manulife Financial in the 3rd quarter valued at $31,000. Finally, Stonebridge Financial Group LLC bought a new position in shares of Manulife Financial in the 4th quarter valued at $34,000. Institutional investors own 52.56% of the company’s stock.

Analyst Upgrades and Downgrades

MFC has been the topic of several recent analyst reports. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada lifted their price target on Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday. One research 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $45.50.

Manulife Financial Stock Down 4.6 %

NYSE MFC opened at $30.36 on Friday. Manulife Financial Co. has a twelve month low of $22.61 and a twelve month high of $33.07. The company has a market cap of $52.32 billion, a price-to-earnings ratio of 14.67, a price-to-earnings-growth ratio of 1.11 and a beta of 1.09. The business’s fifty day moving average is $30.32 and its 200 day moving average is $29.79.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.07. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The company had revenue of $9.31 billion for the quarter. On average, research analysts anticipate 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 will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.3094 per share. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.24 annualized dividend and a dividend yield of 4.08%. Manulife Financial’s dividend payout ratio (DPR) is 59.42%.

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.