Deutsche Bank AG Reduces Position in Manulife Financial Co. (NYSE:MFC)

Deutsche Bank AG lowered its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 1.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,610,010 shares of the financial services provider's stock after selling 27,792 shares during the quarter. Deutsche Bank AG owned approximately 0.15% of Manulife Financial worth $80,153,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Barclays PLC raised its position in shares of Manulife Financial by 60.1% in the 3rd quarter. Barclays PLC now owns 741,764 shares of the financial services provider's stock worth $21,919,000 after acquiring an additional 278,307 shares in the last quarter. ST Germain D J Co. Inc. raised its position in shares of Manulife Financial by 65.3% in the 4th quarter. ST Germain D J Co. Inc. now owns 4,547 shares of the financial services provider's stock worth $140,000 after acquiring an additional 1,797 shares in the last quarter. Aprio Wealth Management LLC raised its position in shares of Manulife Financial by 7.5% in the 4th quarter. Aprio Wealth Management LLC now owns 12,468 shares of the financial services provider's stock worth $383,000 after acquiring an additional 873 shares in the last quarter. JCIC Asset Management Inc. raised its position in shares of Manulife Financial by 16.1% in the 4th quarter. JCIC Asset Management Inc. now owns 6,389 shares of the financial services provider's stock worth $196,000 after acquiring an additional 884 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Manulife Financial by 1,067.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 686,418 shares of the financial services provider's stock worth $21,080,000 after acquiring an additional 627,614 shares in the last quarter. Hedge funds and other institutional investors own 52.56% of the company's stock.

Manulife Financial Stock Up 0.4%

NYSE:MFC traded up $0.14 on Friday, reaching $32.01. 1,685,257 shares of the company's stock traded hands, compared to its average volume of 2,167,202. The stock has a 50-day simple moving average of $30.08 and a 200-day simple moving average of $30.53. The firm has a market cap of $54.82 billion, a PE ratio of 15.46, a P/E/G ratio of 1.11 and a beta of 1.00. Manulife Financial Co. has a 12 month low of $23.30 and a 12 month high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.69 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.01). The business had revenue of $1.49 billion for the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. During the same quarter in the previous year, the company posted $0.94 earnings per share. On average, equities analysts anticipate that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Wednesday, May 21st will be issued a $0.3194 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.99%. This is a boost from Manulife Financial's previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Wednesday, May 21st. Manulife Financial's payout ratio is 63.87%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Royal Bank of Canada raised their price objective on Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Scotiabank reaffirmed an "outperform" rating on shares of Manulife Financial in a research report on Monday, February 3rd. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $45.50.

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.