Cerity Partners LLC Cuts Stake in Manulife Financial Co. (NYSE:MFC)

Cerity Partners LLC reduced its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 7.4% in the fourth quarter, Holdings Channel reports. The firm owned 116,827 shares of the financial services provider’s stock after selling 9,311 shares during the quarter. Cerity Partners LLC’s holdings in Manulife Financial were worth $3,524,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Little House Capital LLC increased its position in shares of Manulife Financial by 1.0% during the fourth quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider’s stock valued at $1,037,000 after acquiring an additional 331 shares in the last quarter. Robertson Stephens Wealth Management LLC increased its holdings in shares of Manulife Financial by 1.5% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 23,068 shares of the financial services provider’s stock worth $708,000 after purchasing an additional 339 shares in the last quarter. Erste Asset Management GmbH raised its stake in shares of Manulife Financial by 0.6% in the fourth quarter. Erste Asset Management GmbH now owns 69,300 shares of the financial services provider’s stock worth $2,133,000 after purchasing an additional 400 shares during the last quarter. TIAA Trust National Association raised its stake in shares of Manulife Financial by 5.0% in the fourth quarter. TIAA Trust National Association now owns 8,419 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 404 shares during the last quarter. Finally, Addison Advisors LLC boosted its position in shares of Manulife Financial by 45.9% during the fourth quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider’s stock valued at $44,000 after buying an additional 449 shares during the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MFC shares. Royal Bank of Canada boosted their target price on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Manulife Financial currently has a consensus rating of “Buy” and a consensus target price of $45.50.

Manulife Financial Stock Performance

MFC stock opened at $28.04 on Monday. The company has a market cap of $48.18 billion, a price-to-earnings ratio of 13.54, a P/E/G ratio of 1.11 and a beta of 0.89. The business’s 50-day moving average is $29.85 and its two-hundred day moving average is $30.46. Manulife Financial Co. has a fifty-two week low of $22.61 and a fifty-two week high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.07. The firm had revenue of $9.31 billion for the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. Equities analysts predict that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.3094 per share. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.41%. Manulife Financial’s payout ratio is presently 58.45%.

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.