Orion Portfolio Solutions LLC Has $1.25 Million Stake in Manulife Financial Co. (NYSE:MFC)

Orion Portfolio Solutions LLC lowered its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 11.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,782 shares of the financial services provider’s stock after selling 5,193 shares during the period. Orion Portfolio Solutions LLC’s holdings in Manulife Financial were worth $1,252,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Crews Bank & Trust acquired a new stake in shares of Manulife Financial in the 4th quarter valued at $26,000. Lee Danner & Bass Inc. acquired a new stake in Manulife Financial in the fourth quarter worth about $31,000. Stonebridge Financial Group LLC bought a new stake in Manulife Financial during the 4th quarter worth about $34,000. Golden State Wealth Management LLC acquired a new position in Manulife Financial during the 4th quarter valued at about $35,000. Finally, CKW Financial Group bought a new position in shares of Manulife Financial in the 4th quarter valued at about $37,000. Institutional investors own 52.56% of the company’s stock.

Analyst Upgrades and Downgrades

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

Manulife Financial Stock Performance

Shares of NYSE:MFC opened at $27.79 on Friday. The company has a 50 day moving average price of $30.16 and a two-hundred day moving average price of $30.50. The company has a market capitalization of $47.87 billion, a PE ratio of 13.43, a PEG ratio of 1.11 and a beta of 0.89. Manulife Financial Co. has a 52 week low of $22.61 and a 52 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 EPS for the quarter, topping the consensus estimate of $0.67 by $0.07. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The business had revenue of $9.31 billion for the quarter. On average, sell-side analysts forecast that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a dividend of $0.3094 per share. This represents a $1.24 dividend on an annualized basis and a yield of 4.45%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, March 5th. Manulife Financial’s dividend payout ratio is presently 58.45%.

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.