Manulife Financial Co. (NYSE:MFC) Shares Sold by Swiss National Bank

Swiss National Bank reduced its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 0.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,396,800 shares of the financial services provider’s stock after selling 7,700 shares during the quarter. Swiss National Bank owned approximately 0.31% of Manulife Financial worth $159,750,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Americana Partners LLC increased its stake in Manulife Financial by 0.5% in the third quarter. Americana Partners LLC now owns 69,967 shares of the financial services provider’s stock valued at $2,068,000 after purchasing an additional 364 shares during the last quarter. Indiana Trust & Investment Management CO increased its stake in Manulife Financial by 22.2% during the second quarter. Indiana Trust & Investment Management CO now owns 2,540 shares of the financial services provider’s stock worth $68,000 after acquiring an additional 462 shares during the last quarter. Addison Advisors LLC increased its stake in Manulife Financial by 77.2% during the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 467 shares during the last quarter. LRI Investments LLC increased its stake in Manulife Financial by 8.6% during the second quarter. LRI Investments LLC now owns 6,819 shares of the financial services provider’s stock worth $182,000 after acquiring an additional 542 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its stake in Manulife Financial by 1.3% during the third quarter. Arkadios Wealth Advisors now owns 41,841 shares of the financial services provider’s stock worth $1,236,000 after acquiring an additional 547 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Barclays assumed coverage on Manulife Financial in a research note on Thursday, September 5th. They set an “equal weight” rating for the company. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $37.50.

Manulife Financial Price Performance

Shares of NYSE MFC opened at $32.66 on Monday. Manulife Financial Co. has a 1-year low of $18.80 and a 1-year high of $33.07. The business has a 50-day moving average of $29.91 and a 200-day moving average of $27.43. The company has a market capitalization of $57.22 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 1.19 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The company had revenue of $10.69 billion during the quarter, compared to the consensus estimate of $9.73 billion. During the same quarter in the prior year, the business earned $0.69 earnings per share. Research analysts expect that Manulife Financial Co. will post 2.74 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be issued a $0.296 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.18 dividend on an annualized basis and a yield of 3.63%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s dividend payout ratio is currently 57.00%.

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.