Versor Investments LP Reduces Holdings in Manulife Financial Co. (NYSE:MFC)

Versor Investments LP decreased its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 39.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 30,698 shares of the financial services provider’s stock after selling 19,602 shares during the period. Versor Investments LP’s holdings in Manulife Financial were worth $942,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. National Bank of Canada FI grew its holdings in Manulife Financial by 13.5% during the 3rd quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider’s stock worth $829,374,000 after acquiring an additional 3,329,892 shares in the last quarter. Geode Capital Management LLC grew its holdings in Manulife Financial by 8.1% during the 3rd quarter. Geode Capital Management LLC now owns 8,273,260 shares of the financial services provider’s stock worth $247,473,000 after acquiring an additional 616,517 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Manulife Financial by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,186,930 shares of the financial services provider’s stock worth $153,455,000 after acquiring an additional 158,216 shares in the last quarter. Alberta Investment Management Corp grew its holdings in Manulife Financial by 5.1% during the 4th quarter. Alberta Investment Management Corp now owns 4,896,049 shares of the financial services provider’s stock worth $150,333,000 after acquiring an additional 236,808 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Manulife Financial by 1.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,035,663 shares of the financial services provider’s stock worth $60,202,000 after acquiring an additional 36,838 shares in the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Stock Performance

NYSE MFC opened at $30.77 on Friday. Manulife Financial Co. has a one year low of $22.61 and a one year high of $33.07. The company has a 50-day simple moving average of $30.34 and a 200-day simple moving average of $29.92. The firm has a market capitalization of $53.02 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 1.11 and a beta of 1.09.

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

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.3094 per share. This represents a $1.24 dividend on an annualized basis and a yield of 4.02%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, March 5th. Manulife Financial’s payout ratio is presently 58.45%.

Wall Street Analyst Weigh In

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

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.