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

Principal Financial Group Inc. lessened its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 53.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 65,500 shares of the financial services provider’s stock after selling 75,900 shares during the quarter. Principal Financial Group Inc.’s holdings in Manulife Financial were worth $1,938,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Americana Partners LLC increased its stake in shares of Manulife Financial by 0.5% during the third quarter. Americana Partners LLC now owns 69,967 shares of the financial services provider’s stock valued at $2,068,000 after acquiring an additional 364 shares during the period. Indiana Trust & Investment Management CO increased its position in shares of Manulife Financial by 22.2% during the 2nd quarter. Indiana Trust & Investment Management CO now owns 2,540 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 462 shares during the period. Addison Advisors LLC raised its stake 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 worth $29,000 after buying an additional 467 shares in the last quarter. LRI Investments LLC lifted its holdings in shares of Manulife Financial by 8.6% in the second quarter. LRI Investments LLC now owns 6,819 shares of the financial services provider’s stock valued at $182,000 after buying an additional 542 shares during the period. Finally, Arkadios Wealth Advisors boosted its stake in Manulife Financial by 1.3% during the third quarter. Arkadios Wealth Advisors now owns 41,841 shares of the financial services provider’s stock valued at $1,236,000 after buying an additional 547 shares in the last quarter. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Trading Down 0.6 %

Shares of NYSE MFC opened at $32.48 on Friday. Manulife Financial Co. has a one year low of $19.13 and a one year high of $33.07. The business has a 50-day moving average price of $30.38 and a two-hundred day moving average price of $27.67. The firm has a market capitalization of $56.90 billion, a PE ratio of 15.69, a PEG ratio of 1.19 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.70 by $0.30. The business had revenue of $10.69 billion during the quarter, compared to analysts’ expectations 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 last year, the company posted $0.69 earnings per share. Research analysts anticipate that Manulife Financial Co. will post 2.74 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be given a dividend of $0.296 per share. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, November 20th. This represents a $1.18 dividend on an annualized basis and a yield of 3.65%. Manulife Financial’s dividend payout ratio (DPR) is presently 57.00%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MFC shares. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Barclays started coverage on Manulife Financial in a research report on Thursday, September 5th. They set an “equal weight” rating for the company. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Manulife Financial presently has an average rating of “Buy” and an average price target of $37.50.

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.