Manulife Financial Co. (NYSE:MFC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 53.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,500 shares of the financial services provider’s stock after selling 75,900 shares during the period. Principal Financial Group Inc.’s holdings in Manulife Financial were worth $1,938,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of MFC. West Financial Advisors LLC purchased a new position in shares of Manulife Financial in the 3rd quarter valued at about $26,000. Brooklyn Investment Group acquired a new stake in Manulife Financial during the third quarter worth approximately $26,000. HHM Wealth Advisors LLC lifted its position in shares of Manulife Financial by 119.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock worth $29,000 after buying an additional 600 shares during the last quarter. Addison Advisors LLC boosted its holdings in shares of Manulife Financial by 77.2% in the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock valued at $29,000 after buying an additional 467 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Manulife Financial in the 3rd quarter valued at $30,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Price Performance

Shares of NYSE:MFC opened at $30.67 on Friday. Manulife Financial Co. has a 12 month low of $20.78 and a 12 month high of $33.07. The firm has a market capitalization of $53.40 billion, a P/E ratio of 14.82, a P/E/G ratio of 1.14 and a beta of 1.09. The company’s fifty day moving average price is $31.30 and its 200 day moving average price is $28.75.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.30. The company had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same quarter in the previous year, the business earned $0.69 earnings per share. On average, sell-side analysts anticipate that Manulife Financial Co. will post 2.72 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th were paid a $0.296 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend was Wednesday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is 57.00%.

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.