Lindbrook Capital LLC Has $54,000 Position in Manulife Financial Co. (NYSE:MFC)

Lindbrook Capital LLC reduced its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 21.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,464 shares of the financial services provider’s stock after selling 680 shares during the quarter. Lindbrook Capital LLC’s holdings in Manulife Financial were worth $54,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MFC. Public Sector Pension Investment Board grew its position in shares of Manulife Financial by 694.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,984,024 shares of the financial services provider’s stock worth $73,139,000 after buying an additional 3,482,367 shares during the period. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Manulife Financial by 45.7% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,932,971 shares of the financial services provider’s stock valued at $72,085,000 after buying an additional 1,233,358 shares during the period. Vanguard Group Inc. increased its position in shares of Manulife Financial by 1.5% during the third quarter. Vanguard Group Inc. now owns 71,526,674 shares of the financial services provider’s stock worth $1,307,508,000 after acquiring an additional 1,086,776 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Manulife Financial by 21.5% during the third quarter. Hsbc Holdings PLC now owns 5,005,072 shares of the financial services provider’s stock worth $91,508,000 after acquiring an additional 885,979 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Manulife Financial by 7.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,680,517 shares of the financial services provider’s stock valued at $195,240,000 after acquiring an additional 775,135 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MFC has been the topic of several recent research reports. Jefferies Financial Group started coverage on Manulife Financial in a research note on Thursday, February 22nd. They issued a “buy” rating on the stock. BMO Capital Markets upgraded Manulife Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $31.00 to $35.00 in a report on Thursday, February 15th. Finally, Desjardins upgraded Manulife Financial from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Manulife Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

Manulife Financial Stock Performance

NYSE:MFC opened at $23.37 on Friday. The stock’s 50-day simple moving average is $24.02 and its 200 day simple moving average is $21.58. The company has a market cap of $42.09 billion, a P/E ratio of 12.11, a P/E/G ratio of 0.87 and a beta of 1.08. Manulife Financial Co. has a 52-week low of $17.07 and a 52-week high of $25.14.

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

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date of this dividend was Tuesday, February 27th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.26. Manulife Financial’s payout ratio is 61.66%.

Manulife Financial Company 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.