Sienna Gestion Sells 335,400 Shares of Manulife Financial Co. (NYSE:MFC)

Sienna Gestion decreased its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 67.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 159,939 shares of the financial services provider’s stock after selling 335,400 shares during the quarter. Sienna Gestion’s holdings in Manulife Financial were worth $4,911,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Crews Bank & Trust acquired a new position in Manulife Financial during the 4th quarter valued at $26,000. Brooklyn Investment Group acquired a new position in Manulife Financial in the 3rd quarter valued at approximately $26,000. Stonebridge Financial Group LLC bought a new stake in shares of Manulife Financial in the 4th quarter worth approximately $34,000. Golden State Wealth Management LLC acquired a new stake in shares of Manulife Financial during the 4th quarter worth approximately $35,000. Finally, CKW Financial Group bought a new stake in shares of Manulife Financial during the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Price Performance

Manulife Financial stock opened at $28.41 on Friday. The business has a 50 day simple moving average of $30.10 and a 200 day simple moving average of $30.16. Manulife Financial Co. has a one year low of $22.61 and a one year high of $33.07. The company has a market capitalization of $48.93 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.07. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The company had revenue of $9.31 billion during the quarter. Equities analysts anticipate that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.3094 per share. 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 yield of 4.36%. Manulife Financial’s dividend payout ratio is 58.45%.

Analyst Ratings Changes

MFC has been the subject of several research reports. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. Royal Bank of Canada raised their price objective on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $45.50.

Manulife Financial Company 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.