Galibier Capital Management Ltd. Has $24 Million Position in Manulife Financial Co. (NYSE:MFC)

Galibier Capital Management Ltd. lowered its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 12.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 781,573 shares of the financial services provider’s stock after selling 113,829 shares during the period. Manulife Financial makes up about 6.9% of Galibier Capital Management Ltd.’s investment portfolio, making the stock its 7th largest holding. Galibier Capital Management Ltd.’s holdings in Manulife Financial were worth $23,998,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Brooklyn Investment Group purchased a new stake in shares of Manulife Financial during the third quarter valued at $26,000. West Financial Advisors LLC purchased a new position in shares of Manulife Financial in the third quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new stake in shares of Manulife Financial during the third quarter valued at approximately $30,000. Fortitude Family Office LLC purchased a new stake in shares of Manulife Financial in the 3rd quarter valued at approximately $31,000. Finally, Tsfg LLC boosted its stake in Manulife Financial by 103.8% in the 3rd quarter. Tsfg LLC now owns 1,404 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 715 shares during the period. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Performance

NYSE MFC opened at $30.58 on Friday. The firm’s 50 day moving average price is $31.34 and its two-hundred day moving average price is $29.06. The stock has a market cap of $52.86 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 1.01 and a beta of 1.09. Manulife Financial Co. has a twelve month low of $20.78 and a twelve month high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The firm had revenue of $10.69 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same period in the previous year, the firm earned $0.69 earnings per share. On average, research analysts forecast that Manulife Financial Co. will post 2.71 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th were given a $0.296 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.87%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Wednesday, November 20th. Manulife Financial’s dividend payout ratio is 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.