Fifth Third Bancorp Sells 43,158 Shares of Manulife Financial Co. (NYSE:MFC)

Fifth Third Bancorp decreased its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 27.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,352 shares of the financial services provider’s stock after selling 43,158 shares during the period. Fifth Third Bancorp’s holdings in Manulife Financial were worth $3,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of MFC. West Financial Advisors LLC purchased a new position in Manulife Financial during the third quarter valued at $26,000. Brooklyn Investment Group bought a new position in shares of Manulife Financial in the third quarter worth about $26,000. Capital Performance Advisors LLP purchased a new position in shares of Manulife Financial during the 3rd quarter valued at about $30,000. Fortitude Family Office LLC bought a new position in shares of Manulife Financial during the 3rd quarter valued at approximately $31,000. Finally, Tsfg LLC increased its holdings in Manulife Financial by 103.8% in the 3rd quarter. Tsfg LLC now owns 1,404 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 715 shares in the last quarter. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Manulife Financial Price Performance

Shares of NYSE:MFC opened at $30.36 on Tuesday. The company has a market capitalization of $52.48 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.05 and a beta of 1.09. Manulife Financial Co. has a 1-year low of $21.54 and a 1-year high of $33.07. The firm’s 50 day simple moving average is $31.12 and its two-hundred day simple moving average is $29.25.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.30. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The company 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 company earned $0.69 EPS. On average, sell-side analysts anticipate that Manulife Financial Co. will post 2.69 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

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