Manulife Financial Co. (NYSE:MFC) Shares Sold by Baron Wealth Management LLC

Baron Wealth Management LLC decreased its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 11.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,709 shares of the financial services provider’s stock after selling 1,691 shares during the period. Baron Wealth Management LLC’s holdings in Manulife Financial were worth $390,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new position in Manulife Financial during the third quarter worth about $26,000. West Financial Advisors LLC acquired a new stake in shares of Manulife Financial in the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP purchased a new stake in shares of Manulife Financial in the third quarter valued at approximately $30,000. Fortitude Family Office LLC acquired a new position in Manulife Financial during the third quarter worth $31,000. Finally, CKW Financial Group purchased a new position in Manulife Financial in the fourth quarter worth $37,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Stock Performance

Shares of NYSE MFC opened at $30.38 on Thursday. Manulife Financial Co. has a one year low of $21.54 and a one year high of $33.07. The firm has a market capitalization of $52.51 billion, a P/E ratio of 14.67, a PEG ratio of 1.05 and a beta of 1.09. The company’s fifty day moving average is $31.03 and its two-hundred day moving average is $29.30.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results 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. The company had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $9.73 billion. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. During the same period last year, the company posted $0.69 earnings per share. On average, sell-side analysts forecast that Manulife Financial Co. will post 2.69 earnings per share 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 issued a $0.296 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.90%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date was Wednesday, November 20th. Manulife Financial’s 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.