Knights of Columbus Asset Advisors LLC Sells 472 Shares of Manulife Financial Corp (NYSE:MFC)

Knights of Columbus Asset Advisors LLC trimmed its holdings in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 4.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,759 shares of the financial services provider’s stock after selling 472 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Manulife Financial were worth $304,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Lazard Asset Management LLC bought a new stake in shares of Manulife Financial during the fourth quarter worth $35,000. Transce3nd LLC acquired a new position in Manulife Financial in the 4th quarter worth $42,000. NBC Securities Inc. raised its stake in shares of Manulife Financial by 178,700.0% in the 1st quarter. NBC Securities Inc. now owns 1,788 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 1,787 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of Manulife Financial in the first quarter valued at about $59,000. Finally, Ancora Advisors LLC lifted its holdings in shares of Manulife Financial by 34.7% in the fourth quarter. Ancora Advisors LLC now owns 1,943 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 500 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Trading Up 0.5%

Shares of MFC stock opened at $31.31 on Friday. The firm’s fifty day moving average price is $31.33 and its two-hundred day moving average price is $30.52. Manulife Financial Corp has a 1 year low of $23.30 and a 1 year high of $33.07. The firm has a market capitalization of $53.47 billion, a P/E ratio of 16.39, a PEG ratio of 1.06 and a beta of 0.99.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, May 7th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). Manulife Financial had a net margin of 9.58% and a return on equity of 15.84%. The company had revenue of $1.49 billion during the quarter. During the same quarter in the prior year, the company posted $0.94 earnings per share. As a group, equities research analysts forecast that Manulife Financial Corp will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Wednesday, May 21st were paid a dividend of $0.3194 per share. The ex-dividend date was Wednesday, May 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.08%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.31. Manulife Financial’s dividend payout ratio is currently 67.02%.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley set a $46.00 target price on Manulife Financial in a research report on Monday, May 19th.

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.