ASR Vermogensbeheer N.V. Decreases Position in Manulife Financial Corp $MFC

ASR Vermogensbeheer N.V. cut its stake in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 23.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,690 shares of the financial services provider’s stock after selling 16,500 shares during the quarter. ASR Vermogensbeheer N.V.’s holdings in Manulife Financial were worth $1,713,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. William B. Walkup & Associates Inc. purchased a new position in Manulife Financial in the 1st quarter valued at about $43,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in Manulife Financial in the 2nd quarter valued at about $55,000. NBC Securities Inc. raised its holdings in 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 acquiring an additional 1,787 shares during the last quarter. Carderock Capital Management Inc. acquired a new stake in Manulife Financial in the 2nd quarter valued at about $58,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Manulife Financial in the 1st quarter valued at about $59,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Price Performance

Shares of NYSE MFC opened at $31.94 on Friday. The company has a 50 day simple moving average of $30.86 and a 200-day simple moving average of $30.80. The company has a market capitalization of $54.13 billion, a P/E ratio of 14.26, a P/E/G ratio of 1.07 and a beta of 0.98. Manulife Financial Corp has a 1 year low of $25.92 and a 1 year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.02). Manulife Financial had a return on equity of 15.77% and a net margin of 10.46%.The firm had revenue of $11.30 billion for the quarter. During the same period in the prior year, the company earned $0.91 EPS. As a group, research analysts expect that Manulife Financial Corp will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Wednesday, August 20th were issued a $0.3199 dividend. This is a boost from Manulife Financial’s previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, August 20th. This represents a $1.28 annualized dividend and a yield of 4.0%. Manulife Financial’s payout ratio is 56.70%.

Wall Street Analyst Weigh In

A number of research firms have commented on MFC. Royal Bank Of Canada cut their price objective on shares of Manulife Financial from $51.00 to $49.00 and set an “outperform” rating for the company in a report on Friday, August 8th. Morgan Stanley set a $48.00 price objective on shares of Manulife Financial in a report on Monday, August 18th. Finally, Weiss Ratings reiterated a “buy (a-)” rating on shares of Manulife Financial in a report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $48.50.

About Manulife Financial

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.