Manulife Financial Co. (NYSE:MFC) Shares Sold by Swiss National Bank

Swiss National Bank trimmed its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 0.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,396,800 shares of the financial services provider’s stock after selling 7,700 shares during the quarter. Swiss National Bank’s holdings in Manulife Financial were worth $159,750,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in MFC. Vanguard Group Inc. increased its position in Manulife Financial by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 72,289,251 shares of the financial services provider’s stock valued at $1,806,508,000 after acquiring an additional 727,764 shares during the period. National Bank of Canada FI increased its position in Manulife Financial by 14.8% in the 1st quarter. National Bank of Canada FI now owns 28,803,968 shares of the financial services provider’s stock valued at $749,435,000 after acquiring an additional 3,720,693 shares during the period. Toronto Dominion Bank increased its position in Manulife Financial by 3.2% in the 2nd quarter. Toronto Dominion Bank now owns 24,057,503 shares of the financial services provider’s stock valued at $640,411,000 after acquiring an additional 750,422 shares during the period. 1832 Asset Management L.P. increased its position in Manulife Financial by 34.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 19,723,609 shares of the financial services provider’s stock valued at $525,042,000 after acquiring an additional 5,036,716 shares during the period. Finally, Legal & General Group Plc increased its position in Manulife Financial by 0.5% in the 2nd quarter. Legal & General Group Plc now owns 14,783,400 shares of the financial services provider’s stock valued at $393,592,000 after acquiring an additional 75,244 shares during the period. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MFC. Barclays began coverage on Manulife Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating on the stock. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $37.50.

Manulife Financial Stock Performance

Shares of NYSE MFC opened at $32.66 on Monday. The stock has a fifty day moving average price of $29.91 and a two-hundred day moving average price of $27.43. The firm has a market cap of $57.22 billion, a P/E ratio of 15.78, a PEG ratio of 1.19 and a beta of 1.08. Manulife Financial Co. has a 1 year low of $18.80 and a 1 year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.30. The firm had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same period last year, the company posted $0.69 EPS. On average, research analysts predict that Manulife Financial Co. will post 2.74 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.296 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a dividend yield of 3.63%. Manulife Financial’s dividend payout ratio (DPR) is currently 57.00%.

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.