Insigneo Advisory Services LLC Sells 526 Shares of Manulife Financial Co. (NYSE:MFC)

Insigneo Advisory Services LLC lessened its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 3.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 13,455 shares of the financial services provider’s stock after selling 526 shares during the period. Insigneo Advisory Services LLC’s holdings in Manulife Financial were worth $398,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MFC. Baron Wealth Management LLC increased its holdings in Manulife Financial by 2.3% in the 3rd quarter. Baron Wealth Management LLC now owns 14,400 shares of the financial services provider’s stock worth $426,000 after acquiring an additional 330 shares in the last quarter. Americana Partners LLC increased its holdings in Manulife Financial by 0.5% in the 3rd quarter. Americana Partners LLC now owns 69,967 shares of the financial services provider’s stock worth $2,068,000 after acquiring an additional 364 shares in the last quarter. Addison Advisors LLC increased its holdings in 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 acquiring an additional 467 shares in the last quarter. LRI Investments LLC increased its holdings in Manulife Financial by 8.6% in the 2nd quarter. LRI Investments LLC now owns 6,819 shares of the financial services provider’s stock worth $182,000 after acquiring an additional 542 shares in the last quarter. Finally, Arkadios Wealth Advisors increased its holdings in Manulife Financial by 1.3% in the 3rd quarter. Arkadios Wealth Advisors now owns 41,841 shares of the financial services provider’s stock worth $1,236,000 after acquiring an additional 547 shares in the last quarter. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Price Performance

Shares of MFC opened at $32.40 on Monday. Manulife Financial Co. has a 1 year low of $19.74 and a 1 year high of $33.07. The company has a 50 day simple moving average of $31.03 and a two-hundred day simple moving average of $28.14. The firm has a market cap of $56.76 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 1.19 and a beta of 1.09.

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

Manulife Financial Increases Dividend

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

Analysts Set New Price Targets

Separately, Barclays assumed coverage on shares of Manulife Financial in a report on Thursday, September 5th. They issued an “equal weight” rating for the company. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $37.50.

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.