Avior Wealth Management LLC Has $225,000 Stock Position in Manulife Financial Co. (NYSE:MFC)

Avior Wealth Management LLC decreased its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 14.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,334 shares of the financial services provider’s stock after selling 1,248 shares during the quarter. Avior Wealth Management LLC’s holdings in Manulife Financial were worth $225,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its holdings in shares of Manulife Financial by 16.4% in the third quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider’s stock valued at $61,426,000 after purchasing an additional 279,418 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in Manulife Financial by 148.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 73,346 shares of the financial services provider’s stock worth $2,382,000 after acquiring an additional 43,877 shares during the last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Manulife Financial in the 3rd quarter worth $13,318,000. DRW Securities LLC bought a new position in shares of Manulife Financial during the third quarter valued at about $1,008,000. Finally, International Assets Investment Management LLC purchased a new position in Manulife Financial during the third quarter worth about $956,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Performance

NYSE:MFC opened at $30.36 on Tuesday. Manulife Financial Co. has a 52 week low of $21.54 and a 52 week high of $33.07. The firm has a 50-day moving average price of $31.12 and a two-hundred day moving average price of $29.25. The firm has a market cap of $52.48 billion, a price-to-earnings ratio of 14.67, a price-to-earnings-growth ratio of 1.05 and a beta of 1.09.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The business had revenue of $10.69 billion for the quarter, compared to analysts’ expectations of $9.73 billion. During the same quarter in the previous year, the firm earned $0.69 earnings per share. As a group, sell-side analysts forecast that Manulife Financial Co. will post 2.69 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, November 20th were issued a dividend of $0.296 per share. This represents a $1.18 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend was Wednesday, November 20th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s dividend payout ratio (DPR) is 59.42%.

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.