Janney Montgomery Scott LLC Sells 5,735 Shares of Manulife Financial Co. (NYSE:MFC)

Janney Montgomery Scott LLC reduced its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 5.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 92,697 shares of the financial services provider’s stock after selling 5,735 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Manulife Financial were worth $2,847,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in MFC. Baron Wealth Management LLC boosted its stake in Manulife Financial by 2.3% in the third quarter. Baron Wealth Management LLC now owns 14,400 shares of the financial services provider’s stock valued at $426,000 after acquiring an additional 330 shares during the last quarter. Americana Partners LLC lifted its stake in Manulife Financial by 0.5% in the third quarter. Americana Partners LLC now owns 69,967 shares of the financial services provider’s stock valued at $2,068,000 after purchasing an additional 364 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in Manulife Financial by 1.3% in the third quarter. Arkadios Wealth Advisors now owns 41,841 shares of the financial services provider’s stock valued at $1,236,000 after purchasing an additional 547 shares during the last quarter. Kathmere Capital Management LLC grew its holdings in Manulife Financial by 4.5% during the fourth quarter. Kathmere Capital Management LLC now owns 13,340 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 569 shares during the period. Finally, Daymark Wealth Partners LLC increased its position in Manulife Financial by 1.7% in the third quarter. Daymark Wealth Partners LLC now owns 34,886 shares of the financial services provider’s stock worth $1,031,000 after buying an additional 596 shares during the last quarter. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Price Performance

Shares of NYSE MFC opened at $29.90 on Friday. The stock has a market capitalization of $51.69 billion, a PE ratio of 14.44, a P/E/G ratio of 1.05 and a beta of 1.09. Manulife Financial Co. has a one year low of $21.54 and a one year high of $33.07. The business’s fifty day moving average price is $30.95 and its 200-day moving average price is $29.31.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.70 by $0.30. The business had revenue of $10.69 billion for the quarter, compared to the consensus estimate of $9.73 billion. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. During the same period in the prior year, the firm earned $0.69 earnings per share. As a group, equities analysts expect that Manulife Financial Co. will post 2.67 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, November 20th were paid a $0.296 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 3.96%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Wednesday, November 20th. Manulife Financial’s payout ratio is currently 59.42%.

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.