Wambolt & Associates LLC Has $2.81 Million Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Wambolt & Associates LLC trimmed its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 8.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 91,458 shares of the financial services provider’s stock after selling 8,933 shares during the quarter. Wambolt & Associates LLC’s holdings in Manulife Financial were worth $2,809,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of MFC. Brooklyn Investment Group acquired a new stake in Manulife Financial in the 3rd quarter valued at $26,000. Crews Bank & Trust acquired a new position in Manulife Financial during the fourth quarter worth $26,000. Lee Danner & Bass Inc. bought a new position in shares of Manulife Financial during the fourth quarter valued at $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Manulife Financial in the 4th quarter valued at $34,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Manulife Financial during the 4th quarter worth about $35,000. 52.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Royal Bank of Canada boosted 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 restated an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. One equities 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. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $45.50.

Manulife Financial Price Performance

Shares of NYSE MFC opened at $31.34 on Tuesday. The company’s 50 day simple moving average is $30.09 and its 200 day simple moving average is $30.34. Manulife Financial Co. has a fifty-two week low of $22.61 and a fifty-two week high of $33.07. The firm has a market capitalization of $53.99 billion, a P/E ratio of 15.14, a P/E/G ratio of 1.11 and a beta of 1.05.

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 return on equity of 15.98% and a net margin of 10.08%. Sell-side analysts expect that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given 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 was Wednesday, March 5th. This represents a $1.24 annualized dividend and a dividend yield of 3.95%. Manulife Financial’s dividend payout ratio is currently 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.