FineMark National Bank & Trust Decreases Stake in Manulife Financial Co. (NYSE:MFC)

FineMark National Bank & Trust trimmed its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,055 shares of the financial services provider’s stock after selling 401 shares during the period. FineMark National Bank & Trust’s holdings in Manulife Financial were worth $677,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in Manulife Financial during the 3rd quarter worth approximately $26,000. Crews Bank & Trust purchased a new stake in shares of Manulife Financial during the 4th quarter worth $26,000. Lee Danner & Bass Inc. purchased a new stake in shares of Manulife Financial during the 4th quarter worth $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Manulife Financial during the fourth quarter worth $34,000. Finally, Golden State Wealth Management LLC purchased a new position in Manulife Financial in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Performance

Shares of MFC stock opened at $31.43 on Wednesday. Manulife Financial Co. has a 1 year low of $22.61 and a 1 year high of $33.07. The firm has a market cap of $54.14 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.11 and a beta of 1.05. The stock’s 50-day moving average is $30.12 and its two-hundred day moving average is $30.37.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.67 by $0.07. The company had revenue of $9.31 billion for the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. As a group, research analysts predict 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. Shareholders of record on Wednesday, March 5th were given a dividend of $0.3094 per share. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend was Wednesday, March 5th. Manulife Financial’s dividend payout ratio (DPR) is presently 58.45%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Royal Bank of Canada upped their price objective on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. One equities research 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 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.