Manulife Financial Co. (NYSE:MFC) Shares Sold by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. decreased its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 69,186 shares of the financial services provider’s stock after selling 2,448 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Manulife Financial were worth $1,529,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MFC. SG Americas Securities LLC acquired a new position in shares of Manulife Financial in the third quarter worth about $592,000. Cambridge Investment Research Advisors Inc. increased its holdings in Manulife Financial by 10.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 73,155 shares of the financial services provider’s stock valued at $1,337,000 after buying an additional 7,124 shares during the last quarter. Raymond James & Associates increased its holdings in Manulife Financial by 46.6% in the third quarter. Raymond James & Associates now owns 403,284 shares of the financial services provider’s stock valued at $7,372,000 after buying an additional 128,228 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Manulife Financial by 8.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 95,114 shares of the financial services provider’s stock valued at $1,739,000 after buying an additional 7,740 shares during the last quarter. Finally, Stratos Wealth Partners LTD. acquired a new stake in shares of Manulife Financial during the third quarter worth $250,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Desjardins raised shares of Manulife Financial from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. BMO Capital Markets upgraded Manulife Financial from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $31.00 to $35.00 in a research note on Thursday, February 15th. Finally, Jefferies Financial Group assumed coverage on Manulife Financial in a research note on Thursday, February 22nd. They issued a “buy” rating for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.33.

Manulife Financial Trading Up 1.3 %

MFC opened at $24.01 on Monday. The business’s 50 day moving average is $23.93 and its 200-day moving average is $21.84. The stock has a market cap of $43.12 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 0.89 and a beta of 1.08. Manulife Financial Co. has a twelve month low of $17.07 and a twelve month 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, beating analysts’ consensus estimates of $0.63 by $0.05. Manulife Financial had a return on equity of 15.98% and a net margin of 10.42%. The company had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $7.57 billion. As a group, analysts forecast that Manulife Financial Co. will post 2.7 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently announced 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. This is a boost from Manulife Financial’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.19 annualized dividend and a yield of 4.96%. Manulife Financial’s payout ratio is presently 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.