Measured Wealth Private Client Group LLC Sells 30,110 Shares of Manulife Financial Corp $MFC

Measured Wealth Private Client Group LLC lessened its holdings in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 57.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 22,712 shares of the financial services provider’s stock after selling 30,110 shares during the period. Measured Wealth Private Client Group LLC’s holdings in Manulife Financial were worth $707,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Root Financial Partners LLC acquired a new position in shares of Manulife Financial in the 3rd quarter valued at $25,000. Caldwell Trust Co acquired a new stake in shares of Manulife Financial during the second quarter worth $27,000. American Wealth Advisors LLC bought a new stake in Manulife Financial in the third quarter valued at about $36,000. Winnow Wealth LLC bought a new stake in Manulife Financial in the second quarter valued at about $38,000. Finally, Goodman Advisory Group LLC bought a new stake in Manulife Financial in the second quarter valued at about $39,000. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Performance

Shares of Manulife Financial stock opened at $34.11 on Tuesday. The firm has a market cap of $57.19 billion, a PE ratio of 15.36 and a beta of 0.83. The business’s 50 day simple moving average is $36.41 and its 200 day simple moving average is $34.43. Manulife Financial Corp has a 52-week low of $25.92 and a 52-week high of $38.72.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. The firm had revenue of $11.32 billion during the quarter, compared to the consensus estimate of $2.32 billion. Manulife Financial had a return on equity of 16.43% and a net margin of 9.18%.During the same quarter in the prior year, the firm posted $1.03 EPS. As a group, equities research analysts predict that Manulife Financial Corp will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Wednesday, February 25th will be issued a dividend of $0.485 per share. The ex-dividend date is Wednesday, February 25th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.44. This represents a $1.94 annualized dividend and a yield of 5.7%. Manulife Financial’s dividend payout ratio is currently 63.96%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MFC shares. Morgan Stanley set a $51.00 target price on Manulife Financial in a report on Monday, December 15th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Manulife Financial in a research report on Friday, February 13th. Canadian Imperial Bank of Commerce raised shares of Manulife Financial from a “neutral” rating to an “outperform” rating in a research note on Thursday, January 8th. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a report on Thursday, February 5th. Finally, Weiss Ratings downgraded shares of Manulife Financial from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $51.50.

Manulife Financial Profile

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.