Colonial Trust Advisors Cuts Holdings in Manulife Financial Co. (NYSE:MFC)

Colonial Trust Advisors reduced its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 39.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,081 shares of the financial services provider’s stock after selling 1,974 shares during the period. Colonial Trust Advisors’ holdings in Manulife Financial were worth $95,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MFC. Crews Bank & Trust bought a new stake in shares of Manulife Financial in the 4th quarter worth about $26,000. Lee Danner & Bass Inc. bought a new stake in Manulife Financial during the fourth quarter worth approximately $31,000. Stonebridge Financial Group LLC purchased a new stake in Manulife Financial during the fourth quarter valued at approximately $34,000. Golden State Wealth Management LLC purchased a new stake in Manulife Financial during the fourth quarter valued at approximately $35,000. Finally, CKW Financial Group purchased a new position in shares of Manulife Financial in the 4th quarter worth approximately $37,000. 52.56% of the stock is owned by institutional investors.

Manulife Financial Trading Down 6.2 %

Shares of MFC opened at $27.33 on Friday. Manulife Financial Co. has a 12 month low of $22.61 and a 12 month high of $33.07. The stock has a fifty day moving average price of $29.88 and a 200-day moving average price of $30.46. The firm has a market cap of $47.07 billion, a PE ratio of 13.20, a P/E/G ratio of 1.11 and a beta of 0.89.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter. As a group, research analysts forecast that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.3094 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 4.53%. The ex-dividend date was Wednesday, March 5th. Manulife Financial’s dividend payout ratio is 58.45%.

Wall Street Analysts Forecast Growth

MFC has been the subject of several recent analyst reports. Royal Bank of Canada lifted their price objective on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $45.50.

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.