Stratos Wealth Partners LTD. Reduces Holdings in Manulife Financial Co. (NYSE:MFC)

Stratos Wealth Partners LTD. trimmed its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 7.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,665 shares of the financial services provider’s stock after selling 1,009 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Manulife Financial were worth $280,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Manulife Financial during the third quarter valued at $27,000. Anchor Investment Management LLC purchased a new stake in shares of Manulife Financial during the fourth quarter valued at $27,000. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Manulife Financial during the fourth quarter valued at $27,000. Trust Co. of Vermont boosted its stake in shares of Manulife Financial by 478.5% during 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 during the period. Finally, Arlington Trust Co LLC purchased a new stake in shares of Manulife Financial during the third quarter valued at $29,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Price Performance

NYSE:MFC opened at $22.99 on Tuesday. The firm has a market cap of $41.40 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 0.86 and a beta of 1.08. The company has a 50-day moving average of $23.96 and a 200 day moving average 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 posted its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $7.57 billion. Sell-side analysts anticipate that Manulife Financial Co. will post 2.71 EPS for the current fiscal year.

Manulife Financial Increases Dividend

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

Analyst Upgrades and Downgrades

MFC has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on shares of Manulife Financial in a research note on Thursday, February 22nd. They set a “buy” rating for the company. TheStreet raised shares of Manulife Financial from a “c+” rating to a “b” rating in a research note on Thursday, December 21st. BMO Capital Markets raised shares of Manulife Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $31.00 to $35.00 in a research note on Thursday, February 15th. Finally, Desjardins raised shares of Manulife Financial from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.33.

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.