Achmea Investment Management B.V. Acquires 37,226 Shares of Manulife Financial Corp (NYSE:MFC)

Achmea Investment Management B.V. boosted its holdings in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 4.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 889,777 shares of the financial services provider's stock after buying an additional 37,226 shares during the quarter. Achmea Investment Management B.V. owned approximately 0.05% of Manulife Financial worth $27,721,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. PDS Planning Inc raised its stake in Manulife Financial by 6.7% in the 1st quarter. PDS Planning Inc now owns 10,653 shares of the financial services provider's stock valued at $332,000 after acquiring an additional 673 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Manulife Financial by 1.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 60,666 shares of the financial services provider's stock worth $1,890,000 after buying an additional 1,109 shares during the last quarter. Alpine Bank Wealth Management acquired a new stake in shares of Manulife Financial during the 1st quarter worth about $71,000. Golden State Wealth Management LLC boosted its holdings in shares of Manulife Financial by 118.6% during the 1st quarter. Golden State Wealth Management LLC now owns 2,486 shares of the financial services provider's stock worth $77,000 after buying an additional 1,349 shares during the period. Finally, Bessemer Group Inc. raised its holdings in Manulife Financial by 1,113.7% in the 1st quarter. Bessemer Group Inc. now owns 1,086,145 shares of the financial services provider's stock valued at $33,878,000 after acquiring an additional 996,656 shares during the period. Institutional investors own 52.56% of the company's stock.

Manulife Financial Trading Up 2.6%

Shares of MFC opened at $32.10 on Friday. Manulife Financial Corp has a 12 month low of $23.30 and a 12 month high of $33.07. The firm's 50 day moving average is $31.22 and its 200-day moving average is $30.48. The stock has a market capitalization of $54.83 billion, a PE ratio of 16.81, a P/E/G ratio of 1.07 and a beta of 1.01.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its earnings results on Wednesday, May 7th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.01). Manulife Financial had a return on equity of 15.84% and a net margin of 9.58%. The company had revenue of $1.49 billion for the quarter. During the same quarter in the prior year, the business posted $0.94 earnings per share. Equities research analysts predict that Manulife Financial Corp will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Wednesday, May 21st were given a dividend of $0.3194 per share. This is an increase from Manulife Financial's previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend was Wednesday, May 21st. Manulife Financial's dividend payout ratio is currently 67.02%.

Wall Street Analyst Weigh In

Separately, Morgan Stanley set a $46.00 price target on Manulife Financial in a report on Monday, May 19th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $45.67.

Manulife Financial 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.

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