HBK Sorce Advisory LLC Has $369,000 Stock Holdings in Manulife Financial Co. (NYSE:MFC)

HBK Sorce Advisory LLC trimmed its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 9.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,016 shares of the financial services provider’s stock after selling 1,227 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Manulife Financial were worth $369,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Franklin Resources Inc. grew its holdings in 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 worth $61,426,000 after purchasing an additional 279,418 shares during the period. Sanctuary Advisors LLC lifted its stake in shares of Manulife Financial by 148.9% in the third quarter. Sanctuary Advisors LLC now owns 73,346 shares of the financial services provider’s stock valued at $2,382,000 after buying an additional 43,877 shares in the last quarter. Dorsey & Whitney Trust CO LLC bought a new position in shares of Manulife Financial in the fourth quarter valued at $330,000. AEGON ASSET MANAGEMENT UK Plc lifted its stake in shares of Manulife Financial by 14.9% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 88,631 shares of the financial services provider’s stock valued at $2,719,000 after buying an additional 11,509 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Manulife Financial by 4.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,809,774 shares of the financial services provider’s stock valued at $55,578,000 after buying an additional 81,799 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on MFC shares. Royal Bank of Canada raised their price objective on shares of Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Manulife Financial currently has an average rating of “Buy” and an average target price of $45.50.

Manulife Financial Stock Performance

Shares of MFC stock opened at $29.45 on Friday. The firm has a market cap of $50.73 billion, a price-to-earnings ratio of 14.23, a P/E/G ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a 52 week low of $22.61 and a 52 week high of $33.07. The firm’s 50-day simple moving average is $30.07 and its two-hundred day simple moving average is $30.17.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.67 by $0.07. The business had revenue of $9.31 billion for the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. Analysts forecast that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.3094 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, March 5th. This represents a $1.24 annualized dividend and a dividend yield of 4.20%. Manulife Financial’s dividend payout ratio (DPR) is presently 58.45%.

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.