Manulife Financial Co. (NYSE:MFC) Shares Sold by Atlas Capital Advisors Inc.

Atlas Capital Advisors Inc. reduced its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,951 shares of the financial services provider’s stock after selling 638 shares during the period. Atlas Capital Advisors Inc.’s holdings in Manulife Financial were worth $521,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MFC. Crews Bank & Trust acquired a new stake in shares of Manulife Financial during the 4th quarter valued at approximately $26,000. Lee Danner & Bass Inc. bought a new stake in Manulife Financial during the fourth quarter valued at $31,000. Stonebridge Financial Group LLC bought a new stake in Manulife Financial during the fourth quarter valued at $34,000. Golden State Wealth Management LLC acquired a new stake in shares of Manulife Financial during the fourth quarter worth $35,000. Finally, CKW Financial Group bought a new position in shares of Manulife Financial in the 4th quarter worth about $37,000. Institutional investors own 52.56% of the company’s stock.

Analyst Upgrades and Downgrades

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

Manulife Financial Stock Performance

Manulife Financial stock opened at $27.79 on Friday. The firm has a market capitalization of $47.87 billion, a P/E ratio of 13.43, a P/E/G ratio of 1.11 and a beta of 0.89. The company has a 50-day simple moving average of $30.16 and a 200-day simple moving average of $30.50. Manulife Financial Co. has a one year low of $22.61 and a one year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.67 by $0.07. The company had revenue of $9.31 billion for the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. As a group, sell-side analysts forecast that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.3094 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.24 annualized dividend and a yield of 4.45%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s payout ratio is presently 58.45%.

Manulife Financial 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.