Todd Asset Management LLC Sells 150,730 Shares of Manulife Financial Corp $MFC

Todd Asset Management LLC lessened its stake in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 10.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,241,208 shares of the financial services provider’s stock after selling 150,730 shares during the quarter. Todd Asset Management LLC owned approximately 0.07% of Manulife Financial worth $45,031,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MFC. Root Financial Partners LLC bought a new stake in shares of Manulife Financial during the third quarter worth $25,000. Wolff Wiese Magana LLC grew its stake in shares of Manulife Financial by 269.2% during the fourth quarter. Wolff Wiese Magana LLC now owns 960 shares of the financial services provider’s stock worth $35,000 after buying an additional 700 shares during the last quarter. American Wealth Advisors LLC bought a new stake in shares of Manulife Financial during the third quarter worth $36,000. Steigerwald Gordon & Koch Inc. grew its stake in shares of Manulife Financial by 208.8% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 1,022 shares of the financial services provider’s stock worth $37,000 after buying an additional 691 shares during the last quarter. Finally, Clearstead Trust LLC grew its stake in shares of Manulife Financial by 144.4% during the third quarter. Clearstead Trust LLC now owns 1,256 shares of the financial services provider’s stock worth $39,000 after buying an additional 742 shares during the last quarter. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Performance

NYSE:MFC opened at $38.56 on Monday. The firm has a market cap of $64.35 billion, a price-to-earnings ratio of 15.30 and a beta of 0.87. Manulife Financial Corp has a 52 week low of $29.70 and a 52 week high of $40.40. The firm has a 50-day moving average price of $36.93 and a two-hundred day moving average price of $36.25.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, May 13th. The financial services provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.02). The firm had revenue of $8.89 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Manulife Financial had a net margin of 10.19% and a return on equity of 16.58%. During the same quarter last year, the business posted $0.99 EPS. As a group, sell-side analysts forecast that Manulife Financial Corp will post 3.2 earnings per share for the current year.

Manulife Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, May 29th. This represents a $1.94 annualized dividend and a dividend yield of 5.0%. Manulife Financial’s dividend payout ratio (DPR) is presently 56.35%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MFC shares. Royal Bank Of Canada reissued an “outperform” rating on shares of Manulife Financial in a research note on Friday, February 13th. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a report on Wednesday, April 29th. Weiss Ratings upgraded shares of Manulife Financial from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, May 14th. Finally, TD Securities restated a “buy” rating on shares of Manulife Financial in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to data from MarketBeat, Manulife Financial presently has an average rating of “Buy” and an average target price of $51.50.

About Manulife Financial

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.