Natixis Advisors LLC Trims Holdings in Manulife Financial Co. (NYSE:MFC)

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

Several other institutional investors also recently added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new stake in Manulife Financial in the 3rd quarter valued at about $26,000. Crews Bank & Trust bought a new stake in shares of Manulife Financial during the fourth quarter valued at approximately $26,000. Stonebridge Financial Group LLC purchased a new stake in shares of Manulife Financial in the fourth quarter valued at approximately $34,000. Golden State Wealth Management LLC bought a new position in Manulife Financial in the fourth quarter worth approximately $35,000. Finally, CKW Financial Group purchased a new position in Manulife Financial during the 4th quarter worth $37,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MFC. Royal Bank of Canada increased their price target on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Scotiabank reissued 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 given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $45.50.

Manulife Financial Trading Up 1.6 %

MFC opened at $30.51 on Thursday. The firm has a market cap of $52.56 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a 12 month low of $22.61 and a 12 month high of $33.07. The stock has a fifty day moving average price of $30.04 and a 200-day moving average price of $30.25.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The business had revenue of $9.31 billion during the quarter. On average, equities research analysts forecast that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.3094 dividend. This represents a $1.24 annualized dividend and a yield of 4.06%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, March 5th. Manulife Financial’s dividend payout ratio (DPR) is 58.45%.

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.