Savant Capital LLC Trims Stake in Manulife Financial Co. (NYSE:MFC)

Savant Capital LLC lessened its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 20.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 13,255 shares of the financial services provider’s stock after selling 3,489 shares during the quarter. Savant Capital LLC’s holdings in Manulife Financial were worth $293,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MFC. Anchor Investment Management LLC purchased a new stake in shares of Manulife Financial in the 4th quarter valued at about $27,000. Goodman Advisory Group LLC bought a new stake in Manulife Financial during the fourth quarter valued at approximately $32,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Manulife Financial in the 3rd quarter worth approximately $27,000. Trust Co. of Vermont raised its position in shares of Manulife Financial by 478.5% during the 3rd quarter. Trust Co. of Vermont now owns 1,533 shares of the financial services provider’s stock valued at $28,000 after buying an additional 1,268 shares in the last quarter. Finally, NBC Securities Inc. bought a new stake in shares of Manulife Financial during the 3rd quarter worth $32,000. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Manulife Financial Trading Up 1.8 %

Shares of NYSE:MFC opened at $24.44 on Tuesday. Manulife Financial Co. has a 12-month low of $17.07 and a 12-month high of $25.14. The stock’s 50-day moving average price is $23.93 and its 200-day moving average price is $21.89. The stock has a market capitalization of $43.89 billion, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 0.89 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.05. Manulife Financial had a return on equity of 15.98% and a net margin of 10.42%. The business had revenue of $10.96 billion for the quarter, compared to analyst estimates of $7.57 billion. As a group, research analysts predict that Manulife Financial Co. will post 2.7 EPS for the current 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. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.26. This represents a $1.19 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date of this dividend was Tuesday, February 27th. Manulife Financial’s dividend payout ratio is currently 61.66%.

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.