Stratos Wealth Partners LTD. Sells 1,009 Shares of Manulife Financial Co. (NYSE:MFC)

Stratos Wealth Partners LTD. lessened its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 7.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,665 shares of the financial services provider’s stock after selling 1,009 shares during the period. Stratos Wealth Partners LTD.’s holdings in Manulife Financial were worth $280,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MFC. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Manulife Financial during the third quarter worth $27,000. Anchor Investment Management LLC bought a new stake in Manulife Financial in the fourth quarter valued at $27,000. Sanctuary Wealth Management L.L.C. bought a new stake in Manulife Financial in the fourth quarter valued at $27,000. Trust Co. of Vermont increased its stake in Manulife Financial by 478.5% in the third quarter. Trust Co. of Vermont now owns 1,533 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 1,268 shares in the last quarter. Finally, Arlington Trust Co LLC bought a new stake in Manulife Financial in the third quarter valued at $29,000. Institutional investors own 52.56% of the company’s stock.

Analyst Ratings Changes

MFC has been the subject of several research analyst reports. Desjardins raised shares of Manulife Financial from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. Jefferies Financial Group initiated coverage on shares of Manulife Financial in a research note on Thursday, February 22nd. They issued a “buy” rating for the company. BMO Capital Markets raised shares of Manulife Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $31.00 to $35.00 in a research note on Thursday, February 15th. Finally, TheStreet upgraded shares of Manulife Financial from a “c+” rating to a “b” rating in a report on Thursday, December 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.33.

Manulife Financial Price Performance

Shares of NYSE MFC opened at $22.99 on Tuesday. The stock has a market capitalization of $41.40 billion, a P/E ratio of 11.91, a P/E/G ratio of 0.86 and a beta of 1.08. The company has a 50-day moving average price of $23.96 and a 200-day moving average price of $21.34. Manulife Financial Co. has a 1 year low of $17.07 and a 1 year high of $25.14.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.05. Manulife Financial had a net margin of 10.42% and a return on equity of 15.98%. The business had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $7.57 billion. As a group, equities research analysts anticipate that Manulife Financial Co. will post 2.71 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, February 28th were issued a dividend of $0.298 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.26. This represents a $1.19 annualized dividend and a yield of 5.19%. Manulife Financial’s payout ratio is 61.66%.

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.