Mn Services Vermogensbeheer B.V. Cuts Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Mn Services Vermogensbeheer B.V. decreased its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 700,437 shares of the financial services provider’s stock after selling 9,400 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Manulife Financial were worth $20,723,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. West Financial Advisors LLC purchased a new stake in Manulife Financial in the third quarter worth approximately $26,000. Grove Bank & Trust purchased a new stake in Manulife Financial in the second quarter worth approximately $25,000. Fortitude Family Office LLC purchased a new stake in Manulife Financial in the third quarter worth approximately $31,000. Addison Advisors LLC boosted its holdings in Manulife Financial by 77.2% in the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 467 shares during the last quarter. Finally, HHM Wealth Advisors LLC boosted its holdings in Manulife Financial by 119.0% in the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Price Performance

Shares of Manulife Financial stock opened at $29.70 on Tuesday. The company’s fifty day simple moving average is $29.08 and its 200-day simple moving average is $26.88. The stock has a market capitalization of $52.24 billion, a PE ratio of 17.17, a P/E/G ratio of 1.07 and a beta of 1.08. Manulife Financial Co. has a 1-year low of $18.05 and a 1-year high of $30.86.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.64 by $0.27. The firm had revenue of $9.41 billion for the quarter, compared to the consensus estimate of $8.95 billion. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. During the same period last year, the firm earned $0.62 EPS. As a group, research analysts anticipate that Manulife Financial Co. will post 2.74 EPS for the current year.

Manulife Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, August 21st. This represents a $1.16 annualized dividend and a dividend yield of 3.91%. Manulife Financial’s payout ratio is 67.05%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Barclays started coverage on shares of Manulife Financial in a research note on Thursday, September 5th. They set an “equal weight” rating on the stock. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Manulife Financial has a consensus rating of “Buy” and an average target price of $35.67.

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.