DekaBank Deutsche Girozentrale decreased its position in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 10.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,014,049 shares of the financial services provider’s stock after selling 115,100 shares during the period. DekaBank Deutsche Girozentrale owned 0.05% of Manulife Financial Corp worth $19,113,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of MFC. First Personal Financial Services raised its position in Manulife Financial Corp by 118.4% in the first quarter. First Personal Financial Services now owns 7,442 shares of the financial services provider’s stock worth $132,000 after buying an additional 4,035 shares during the period. Howard Hughes Medical Institute bought a new position in Manulife Financial Corp during the first quarter worth approximately $155,000. Pennsylvania Trust Co bought a new position in Manulife Financial Corp during the second quarter worth approximately $234,000. Sadoff Investment Management LLC bought a new position in Manulife Financial Corp during the second quarter worth approximately $188,000. Finally, Huntington National Bank raised its position in Manulife Financial Corp by 220.4% in the first quarter. Huntington National Bank now owns 10,354 shares of the financial services provider’s stock worth $184,000 after buying an additional 7,122 shares during the period. Hedge funds and other institutional investors own 48.27% of the company’s stock.
Shares of Manulife Financial Corp (NYSE:MFC) opened at 19.62 on Friday. The firm has a market cap of $38.48 billion, a P/E ratio of 13.44 and a beta of 1.30. Manulife Financial Corp has a one year low of $13.16 and a one year high of $20.84. The firm has a 50 day moving average price of $19.67 and a 200-day moving average price of $18.38.
Manulife Financial Corp (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01. The firm had revenue of $12.34 billion during the quarter, compared to the consensus estimate of $16.09 billion. During the same period in the previous year, the company posted $0.40 EPS. Analysts forecast that Manulife Financial Corp will post $1.73 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Tuesday, August 22nd will be issued a $0.1621 dividend. The ex-dividend date is Friday, August 18th. This represents a $0.65 annualized dividend and a dividend yield of 3.30%. This is a boost from Manulife Financial Corp’s previous quarterly dividend of $0.15. Manulife Financial Corp’s dividend payout ratio is presently 43.48%.
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A number of equities analysts have commented on the company. BidaskClub upgraded Manulife Financial Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Zacks Investment Research upgraded Manulife Financial Corp from a “sell” rating to a “hold” rating and set a $22.00 price objective on the stock in a research note on Monday, July 10th. National Bank Financial restated a “sector perform overweight” rating on shares of Manulife Financial Corp in a research note on Wednesday, May 3rd. Finally, ValuEngine lowered Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $23.33.
About Manulife Financial Corp
Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.
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