Wealth Alliance Sells 2,522 Shares of Manulife Financial Co. (NYSE:MFC)

Wealth Alliance decreased its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 10.8% in the 4th quarter, Holdings Channel reports. The fund owned 20,856 shares of the financial services provider’s stock after selling 2,522 shares during the quarter. Wealth Alliance’s holdings in Manulife Financial were worth $640,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MFC. Brooklyn Investment Group bought a new stake in shares of Manulife Financial during the third quarter worth $26,000. Crews Bank & Trust acquired a new position in Manulife Financial during the fourth quarter worth $26,000. Capital Performance Advisors LLP acquired a new position in Manulife Financial during the third quarter worth $30,000. Fortitude Family Office LLC acquired a new position in Manulife Financial during the third quarter worth $31,000. Finally, Stonebridge Financial Group LLC acquired a new position in Manulife Financial during the fourth quarter worth $34,000. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Trading Up 6.9 %

Shares of MFC opened at $31.83 on Friday. Manulife Financial Co. has a 12 month low of $22.61 and a 12 month high of $33.07. The firm has a fifty day simple moving average of $30.33 and a 200 day simple moving average of $29.71. The stock has a market capitalization of $54.84 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.04 and a beta of 1.09.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.67 by $0.07. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The business had revenue of $9.31 billion during the quarter. As a group, research analysts predict that Manulife Financial Co. will post 2.65 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.3094 per share. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.24 annualized dividend and a yield of 3.89%. Manulife Financial’s dividend payout ratio is presently 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.