Manulife Financial Corp $MFC Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. decreased its stake in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 1.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 644,237 shares of the financial services provider’s stock after selling 12,700 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Manulife Financial were worth $20,557,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new position in Manulife Financial during the fourth quarter worth approximately $35,000. William B. Walkup & Associates Inc. acquired a new position in Manulife Financial during the first quarter worth approximately $43,000. NBC Securities Inc. increased its position in Manulife Financial by 178,700.0% during the first quarter. NBC Securities Inc. now owns 1,788 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 1,787 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in Manulife Financial during the first quarter worth approximately $59,000. Finally, Alpine Bank Wealth Management acquired a new position in Manulife Financial during the first quarter worth approximately $71,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on MFC. Morgan Stanley set a $48.00 price target on shares of Manulife Financial in a research report on Monday, August 18th. Royal Bank Of Canada decreased their price objective on shares of Manulife Financial from $51.00 to $49.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Manulife Financial presently has an average rating of “Buy” and a consensus target price of $48.50.

Manulife Financial Stock Up 1.2%

MFC opened at $31.39 on Friday. Manulife Financial Corp has a 52-week low of $25.92 and a 52-week high of $33.07. The company has a 50 day moving average of $30.76 and a two-hundred day moving average of $30.65. The company has a market cap of $53.19 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.04 and a beta of 0.99.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.02). The business had revenue of $11.30 billion for the quarter. Manulife Financial had a return on equity of 15.77% and a net margin of 10.46%.During the same period in the prior year, the company posted $0.91 EPS. Research analysts anticipate that Manulife Financial Corp will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Wednesday, August 20th will be paid a $0.3199 dividend. This represents a $1.28 annualized dividend and a dividend yield of 4.1%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, August 20th. Manulife Financial’s payout ratio is currently 56.70%.

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.