Mn Services Vermogensbeheer B.V. Lowers Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Mn Services Vermogensbeheer B.V. lessened its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 700,437 shares of the financial services provider’s stock after selling 9,400 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Manulife Financial were worth $20,723,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MFC. Van ECK Associates Corp lifted its position in Manulife Financial by 29.3% in the third quarter. Van ECK Associates Corp now owns 343,736 shares of the financial services provider’s stock valued at $10,325,000 after buying an additional 77,864 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Manulife Financial by 40.8% during the third quarter. Farther Finance Advisors LLC now owns 3,328 shares of the financial services provider’s stock worth $98,000 after buying an additional 964 shares in the last quarter. Americana Partners LLC grew its position in shares of Manulife Financial by 0.5% during the third quarter. Americana Partners LLC now owns 69,967 shares of the financial services provider’s stock worth $2,068,000 after buying an additional 364 shares in the last quarter. Measured Wealth Private Client Group LLC grew its position in shares of Manulife Financial by 6.0% during the third quarter. Measured Wealth Private Client Group LLC now owns 48,302 shares of the financial services provider’s stock worth $1,427,000 after buying an additional 2,740 shares in the last quarter. Finally, Galibier Capital Management Ltd. boosted its holdings in Manulife Financial by 1.3% in the third quarter. Galibier Capital Management Ltd. now owns 895,402 shares of the financial services provider’s stock valued at $26,492,000 after purchasing an additional 11,126 shares in the last quarter. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Up 0.8 %

MFC opened at $29.70 on Tuesday. The firm has a market cap of $52.24 billion, a PE ratio of 17.17, a P/E/G ratio of 1.07 and a beta of 1.08. The business has a fifty day simple moving average of $29.08 and a 200-day simple moving average of $26.88. Manulife Financial Co. has a fifty-two week low of $18.05 and a fifty-two week high of $30.86.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.27. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. The firm had revenue of $9.41 billion during the quarter, compared to analysts’ expectations of $8.95 billion. During the same quarter last year, the firm earned $0.62 earnings per share. On average, equities research analysts anticipate that Manulife Financial Co. will post 2.74 EPS for the current fiscal year.

Manulife Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date was Wednesday, August 21st. Manulife Financial’s dividend payout ratio is 67.05%.

Wall Street Analyst Weigh In

MFC has been the subject of a number of research reports. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Barclays initiated coverage on Manulife Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating for the company. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $35.67.

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.