Gateway Investment Advisers LLC Cuts Position in Manulife Financial Co. (NYSE:MFC)

Gateway Investment Advisers LLC cut its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 23.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,489 shares of the financial services provider’s stock after selling 6,452 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Manulife Financial were worth $660,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. National Bank of Canada FI grew its position in shares of Manulife Financial by 13.5% during the 3rd quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider’s stock worth $829,374,000 after buying an additional 3,329,892 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Manulife Financial by 3.2% during the second quarter. Toronto Dominion Bank now owns 24,057,503 shares of the financial services provider’s stock worth $640,411,000 after purchasing an additional 750,422 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in Manulife Financial by 34.3% in the second quarter. 1832 Asset Management L.P. now owns 19,723,609 shares of the financial services provider’s stock worth $525,042,000 after acquiring an additional 5,036,716 shares in the last quarter. Legal & General Group Plc boosted its stake in Manulife Financial by 0.5% in the 2nd quarter. Legal & General Group Plc now owns 14,783,400 shares of the financial services provider’s stock worth $393,592,000 after purchasing an additional 75,244 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Manulife Financial by 8.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,273,260 shares of the financial services provider’s stock valued at $247,473,000 after acquiring an additional 616,517 shares during the period. 52.56% of the stock is owned by institutional investors.

Manulife Financial Trading Down 0.8 %

Shares of NYSE:MFC opened at $30.58 on Friday. The company’s 50 day moving average is $31.32 and its 200 day moving average is $29.09. The company has a market cap of $52.86 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 1.01 and a beta of 1.09. Manulife Financial Co. has a twelve month low of $20.78 and a twelve month high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The company had revenue of $10.69 billion for the quarter, compared to the consensus estimate of $9.73 billion. During the same quarter in the prior year, the business posted $0.69 earnings per share. Equities research analysts predict that Manulife Financial Co. will post 2.71 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 dividend of $0.296 per share. This represents a $1.18 annualized dividend and a dividend yield of 3.87%. The ex-dividend date was Wednesday, November 20th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s payout ratio is currently 59.42%.

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.