QS Investors LLC Decreases Position in Manulife Financial Co. (NYSE:MFC)

QS Investors LLC lessened its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 6.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 144,661 shares of the financial services provider’s stock after selling 10,197 shares during the quarter. QS Investors LLC’s holdings in Manulife Financial were worth $2,798,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of MFC. Vanguard Group Inc. increased its position in shares of Manulife Financial by 1.6% in the second quarter. Vanguard Group Inc. now owns 60,014,183 shares of the financial services provider’s stock valued at $1,182,278,000 after acquiring an additional 917,981 shares during the period. FIL Ltd increased its position in shares of Manulife Financial by 38.5% in the first quarter. FIL Ltd now owns 40,620,016 shares of the financial services provider’s stock valued at $873,684,000 after acquiring an additional 11,291,007 shares during the period. Bank of Nova Scotia increased its position in shares of Manulife Financial by 2.7% in the second quarter. Bank of Nova Scotia now owns 26,074,559 shares of the financial services provider’s stock valued at $513,190,000 after acquiring an additional 674,530 shares during the period. CIBC Asset Management Inc increased its position in shares of Manulife Financial by 16.6% in the first quarter. CIBC Asset Management Inc now owns 16,022,317 shares of the financial services provider’s stock valued at $344,345,000 after acquiring an additional 2,285,145 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Manulife Financial by 10.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 12,017,819 shares of the financial services provider’s stock valued at $236,751,000 after acquiring an additional 1,181,647 shares during the period. Institutional investors own 46.84% of the company’s stock.

Shares of NYSE MFC opened at $19.69 on Thursday. The firm’s 50 day moving average price is $19.59 and its 200-day moving average price is $20.19. The company has a market cap of $38.24 billion, a PE ratio of 6.91, a P/E/G ratio of 0.73 and a beta of 1.40. Manulife Financial Co. has a 52-week low of $13.13 and a 52-week high of $22.25.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, August 4th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.06. The firm had revenue of $21.02 billion for the quarter. Manulife Financial had a net margin of 7.52% and a return on equity of 12.96%. As a group, equities research analysts forecast that Manulife Financial Co. will post 2.62 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 20th. Stockholders of record on Tuesday, August 17th were paid a $0.2233 dividend. The ex-dividend date of this dividend was Monday, August 16th. This represents a $0.89 annualized dividend and a dividend yield of 4.54%. Manulife Financial’s dividend payout ratio is presently 43.90%.

A number of equities analysts have issued reports on MFC shares. Barclays upgraded shares of Manulife Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $30.00 to $31.00 in a research report on Monday, July 12th. BMO Capital Markets lifted their target price on shares of Manulife Financial from C$33.00 to C$34.00 and gave the company an “outperform” rating in a research note on Friday, August 6th. Zacks Investment Research raised shares of Manulife Financial from a “sell” rating to a “hold” rating and set a $21.00 target price on the stock in a research note on Tuesday, August 10th. Credit Suisse Group lowered shares of Manulife Financial from an “outperform” rating to a “neutral” rating in a research note on Tuesday, August 10th. Finally, TD Securities lifted their target price on shares of Manulife Financial from C$35.00 to C$36.00 and gave the company a “buy” rating in a research note on Thursday, August 5th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $29.44.

Manulife Financial Profile

Manulife Financial Corp. engages in the provision of financial services. It operates through the following segments: Asia, Canada, U.S., Global Wealth and Asset Management, and Corporate and Other. The Asia segment refers to insurance and insurance-based wealth accumulation products in Asia. The Canada segment offers insurance-based wealth accumulation products and banking services in Canada.

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Institutional Ownership by Quarter for Manulife Financial (NYSE:MFC)

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