Smartleaf Asset Management LLC Has $158,000 Holdings in Manulife Financial Corp $MFC

Smartleaf Asset Management LLC cut its holdings in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 23.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,151 shares of the financial services provider’s stock after selling 1,575 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Manulife Financial were worth $158,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MFC. TD Asset Management Inc boosted its position in Manulife Financial by 6.6% during the 1st quarter. TD Asset Management Inc now owns 37,093,064 shares of the financial services provider’s stock worth $1,155,639,000 after acquiring an additional 2,289,205 shares during the period. Jupiter Asset Management Ltd. raised its stake in shares of Manulife Financial by 871.5% during the 1st quarter. Jupiter Asset Management Ltd. now owns 2,023,966 shares of the financial services provider’s stock worth $63,057,000 after purchasing an additional 1,815,642 shares in the last quarter. 1832 Asset Management L.P. raised its stake in shares of Manulife Financial by 7.3% during the 1st quarter. 1832 Asset Management L.P. now owns 24,425,465 shares of the financial services provider’s stock worth $760,853,000 after purchasing an additional 1,660,626 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Manulife Financial during the 1st quarter worth about $43,445,000. Finally, Bessemer Group Inc. raised its stake in shares of Manulife Financial by 1,113.7% during the 1st quarter. Bessemer Group Inc. now owns 1,086,145 shares of the financial services provider’s stock worth $33,878,000 after purchasing an additional 996,656 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Stock Performance

Shares of MFC stock opened at $30.34 on Thursday. The stock’s 50 day simple moving average is $30.82 and its 200 day simple moving average is $30.57. Manulife Financial Corp has a twelve month low of $25.92 and a twelve month high of $33.07. The company has a market capitalization of $51.53 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 1.01 and a beta of 1.01.

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

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, August 20th will be given a $0.3199 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $1.28 annualized dividend and a yield of 4.2%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.32. Manulife Financial’s dividend payout ratio (DPR) is presently 56.70%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MFC. Morgan Stanley set a $48.00 price target on Manulife Financial in a research note on Monday, August 18th. Royal Bank Of Canada cut their price target on 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 investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate 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.