Metis Global Partners LLC Decreases Stake in Manulife Financial Co. (NYSE:MFC)

Metis Global Partners LLC lowered its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 3.6% in the third quarter, Holdings Channel reports. The fund owned 74,723 shares of the financial services provider’s stock after selling 2,816 shares during the period. Metis Global Partners LLC’s holdings in Manulife Financial were worth $2,208,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Grove Bank & Trust purchased a new position in Manulife Financial in the second quarter worth approximately $25,000. West Financial Advisors LLC purchased a new stake in shares of Manulife Financial during the 3rd quarter worth approximately $26,000. Addison Advisors LLC lifted its position in shares of Manulife Financial by 77.2% during the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock worth $29,000 after buying an additional 467 shares during the last quarter. HHM Wealth Advisors LLC lifted its position in shares of Manulife Financial by 119.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock worth $29,000 after buying an additional 600 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Manulife Financial during the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Price Performance

Shares of Manulife Financial stock opened at $32.67 on Friday. The firm’s fifty day simple moving average is $29.79 and its 200-day simple moving average is $27.31. The stock has a market capitalization of $57.23 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 1.18 and a beta of 1.08. Manulife Financial Co. has a 12 month low of $18.80 and a 12 month high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.30. The business had revenue of $10.69 billion for 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 in the previous year, the company posted $0.69 EPS. Analysts anticipate that Manulife Financial Co. will post 2.74 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be paid a $0.296 dividend. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial’s payout ratio is currently 56.04%.

Analyst Ratings Changes

Several analysts have recently weighed in on MFC shares. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Barclays initiated coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They set an “equal weight” rating for the company. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $37.50.

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.