Manulife Financial Corp $MFC Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lessened its holdings in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 13.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,222,570 shares of the financial services provider’s stock after selling 184,300 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.07% of Manulife Financial worth $39,073,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MFC. Eastern Bank lifted its holdings in shares of Manulife Financial by 156.1% in the 2nd quarter. Eastern Bank now owns 968 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 590 shares during the last quarter. Winnow Wealth LLC purchased a new stake in Manulife Financial in the second quarter valued at approximately $38,000. William B. Walkup & Associates Inc. purchased a new stake in Manulife Financial in the first quarter valued at approximately $43,000. Oliver Lagore Vanvalin Investment Group acquired a new position in Manulife Financial during the second quarter worth $55,000. Finally, Carderock Capital Management Inc. purchased a new position in shares of Manulife Financial during the second quarter worth $58,000. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Stock Performance

MFC opened at $34.78 on Friday. Manulife Financial Corp has a one year low of $25.92 and a one year high of $35.57. The stock has a market capitalization of $58.60 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 1.13 and a beta of 0.98. The business’s 50-day simple moving average is $32.66 and its 200-day simple moving average is $31.65.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, November 12th. The financial services provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.74 by $0.10. Manulife Financial had a net margin of 10.46% and a return on equity of 15.77%. The firm had revenue of $12.90 billion during the quarter. During the same quarter last year, the company earned $1.00 EPS. On average, equities research analysts forecast that Manulife Financial Corp will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Wednesday, November 26th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 5.1%. The ex-dividend date is Wednesday, November 26th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.32. Manulife Financial’s payout ratio is presently 55.56%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MFC shares. Weiss Ratings reissued a “buy (b)” rating on shares of Manulife Financial in a research report on Monday. UBS Group initiated coverage on shares of Manulife Financial in a report on Thursday, October 16th. They set a “buy” rating on the stock. Royal Bank Of Canada boosted their price target on shares of Manulife Financial from $49.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, November 14th. BMO Capital Markets reiterated an “outperform” rating on shares of Manulife Financial in a research note on Friday, November 14th. Finally, Morgan Stanley set a $47.00 target price on Manulife Financial in a report on Tuesday, October 7th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $49.50.

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.