Manulife Financial Corp (MFC) Shares Sold by DekaBank Deutsche Girozentrale
DekaBank Deutsche Girozentrale reduced its stake in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 10.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,014,049 shares of the financial services provider’s stock after selling 115,100 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Manulife Financial Corp were worth $19,113,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Personal Financial Services boosted its position in Manulife Financial Corp by 118.4% in the first quarter. First Personal Financial Services now owns 7,442 shares of the financial services provider’s stock worth $132,000 after buying an additional 4,035 shares in the last quarter. Howard Hughes Medical Institute purchased a new position in Manulife Financial Corp during the first quarter worth approximately $155,000. Huntington National Bank boosted its position in Manulife Financial Corp by 220.4% in the first quarter. Huntington National Bank now owns 10,354 shares of the financial services provider’s stock worth $184,000 after buying an additional 7,122 shares in the last quarter. Greenleaf Trust purchased a new position in Manulife Financial Corp during the first quarter worth approximately $185,000. Finally, Sadoff Investment Management LLC purchased a new position in Manulife Financial Corp during the second quarter worth approximately $188,000. 48.27% of the stock is currently owned by hedge funds and other institutional investors.
Manulife Financial Corp (MFC) opened at 19.62 on Friday. Manulife Financial Corp has a 1-year low of $13.16 and a 1-year high of $20.84. The company has a market cap of $38.48 billion, a PE ratio of 13.44 and a beta of 1.30. The company has a 50-day moving average price of $19.67 and a 200-day moving average price of $18.38.
Manulife Financial Corp (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The company had revenue of $12.34 billion during the quarter, compared to the consensus estimate of $16.09 billion. During the same quarter in the prior year, the firm posted $0.40 earnings per share. On average, analysts expect that Manulife Financial Corp will post $1.73 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Tuesday, August 22nd will be issued a $0.1621 dividend. This is an increase from Manulife Financial Corp’s previous quarterly dividend of $0.15. This represents a $0.65 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Friday, August 18th. Manulife Financial Corp’s payout ratio is currently 43.48%.
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A number of research analysts recently commented on MFC shares. ValuEngine cut Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub cut Manulife Financial Corp from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Zacks Investment Research raised Manulife Financial Corp from a “sell” rating to a “hold” rating and set a $22.00 target price on the stock in a research note on Monday, July 10th. Finally, National Bank Financial reissued a “sector perform overweight” rating on shares of Manulife Financial Corp in a research note on Wednesday, May 3rd. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $23.33.
Manulife Financial Corp Company Profile
Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.
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