Manulife Financial Co. (NYSE:MFC) Shares Sold by Burney Co.

Burney Co. lowered its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 7.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,674 shares of the financial services provider’s stock after selling 1,730 shares during the period. Burney Co.’s holdings in Manulife Financial were worth $696,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Baron Wealth Management LLC grew its stake in Manulife Financial by 2.3% during the 3rd quarter. Baron Wealth Management LLC now owns 14,400 shares of the financial services provider’s stock worth $426,000 after buying an additional 330 shares during the last quarter. Americana Partners LLC boosted its holdings in shares of Manulife Financial by 0.5% in the third quarter. Americana Partners LLC now owns 69,967 shares of the financial services provider’s stock valued at $2,068,000 after acquiring an additional 364 shares during the period. Arkadios Wealth Advisors grew its position in shares of Manulife Financial by 1.3% during the third quarter. Arkadios Wealth Advisors now owns 41,841 shares of the financial services provider’s stock worth $1,236,000 after acquiring an additional 547 shares during the last quarter. Kathmere Capital Management LLC increased its holdings in shares of Manulife Financial by 4.5% in the 4th quarter. Kathmere Capital Management LLC now owns 13,340 shares of the financial services provider’s stock valued at $410,000 after acquiring an additional 569 shares during the period. Finally, Daymark Wealth Partners LLC raised its position in Manulife Financial by 1.7% in the 3rd quarter. Daymark Wealth Partners LLC now owns 34,886 shares of the financial services provider’s stock valued at $1,031,000 after purchasing an additional 596 shares during the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Stock Performance

Shares of Manulife Financial stock opened at $30.58 on Friday. The company has a market capitalization of $52.86 billion, a P/E ratio of 14.77, a PEG ratio of 1.01 and a beta of 1.09. Manulife Financial Co. has a 1 year low of $20.78 and a 1 year high of $33.07. The company’s fifty day moving average is $31.34 and its two-hundred day moving average is $29.06.

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, beating 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 firm 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 posted $0.69 EPS. As a group, equities analysts expect that Manulife Financial Co. will post 2.71 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently declared 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. The ex-dividend date was Wednesday, November 20th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a dividend yield of 3.87%. Manulife Financial’s dividend payout ratio (DPR) is currently 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.