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Savant Capital LLC cuts stake in Manulife Financial Co. (NYSE:MFC)

Savant Capital LLC cuts stake in Manulife Financial Co.  (NYSE:MFC)


Savant Capital LLC has sold its stake in Manulife Financial Co. (NYSE:MFC – Free Report) (TSE:MFC) fell 20.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 13,255 shares of the financial services provider, 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 holdings in MFC. Anchor Investment Management LLC bought a new stake in shares of Manulife Financial in the fourth quarter worth approximately $27,000. Goodman Advisory Group LLC bought a new stake in Manulife Financial in the fourth quarter valued at approximately $32,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Manulife Financial in the third quarter valued at approximately $27,000. Trust Co. of Vermont increased its position 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 company, valued at $28,000, after purchasing an additional 1,268 shares in the last quarter. Finally, NBC bought Securities Inc. a new stake in Manulife Financial shares worth $32,000 in the third quarter. 52.56% of the shares are currently owned by hedge funds and other institutional investors.

Changes in analyst ratings

A number of research firms have recently commented on MFC. BMO Capital Markets upgraded Manulife Financial from a “market perform” rating to an “outperform” rating and raised their price target for the company from $31.00 to $35.00 in a research note on Thursday, February 15. Desjardins raised Manulife Financial from a “hold” rating to a “buy” rating in a report on Thursday, February 15. Finally, Jefferies Financial Group began coverage on Manulife Financial in a research note on Thursday, February 22. They gave the company a buy recommendation. 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.

Get our latest report on MFC

Manuelife’s financial trading increases by 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 cap of $43.89 billion, a price-to-earnings ratio of 12.66, a price-to-earnings growth ratio of 0.89 and a beta of 1.08.

Manulife Financial (NYSE:MFC – Get Free Report) (TSE:MFC) posted its latest quarterly results on Wednesday, February 14. The financial services provider reported $0.68 earnings per share 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 company 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 earnings per share of 2.7 for the current year.

Manulife Financial increases dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19. Well-known investors received a dividend of $0.298 per share on Wednesday, February 28. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.26. This represents a dividend of $1.19 annually and a yield of 4.88%. The ex-dividend date of this dividend was Tuesday, February 27. Manulife Financial’s dividend payout ratio currently stands at 61.66%.

About Manulife Financial

(Free report)

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 companies; Insurance and annuity products; and business and other segments. The Wealth and Asset Management Businesses segment provides investment advice and solutions to retirement, retail and institutional clients through multiple distribution channels, including affiliated agents and brokers, independent stockbrokers and financial advisors, retirement advisors and banks.

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Would you like to see which other hedge funds own MFC? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for Manulife Financial Co. (NYSE:MFC – Free Report) (TSE:MFC).

Quarterly Institutional Ownership for Manulife Financial (NYSE:MFC)



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