Allianz Asset Management GmbH Has $42.94 Million Stock Position in Manulife Financial Corp (NYSE:MFC)

Allianz Asset Management GmbH cut its position in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 26.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,378,161 shares of the financial services provider's stock after selling 483,612 shares during the quarter. Allianz Asset Management GmbH owned 0.08% of Manulife Financial worth $42,936,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of MFC. Brighton Jones LLC boosted its position in Manulife Financial by 33.9% during the fourth quarter. Brighton Jones LLC now owns 9,393 shares of the financial services provider's stock valued at $288,000 after purchasing an additional 2,376 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Manulife Financial by 5.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,791 shares of the financial services provider's stock valued at $362,000 after acquiring an additional 601 shares during the period. Prudential Financial Inc. boosted its holdings in Manulife Financial by 60.4% during the fourth quarter. Prudential Financial Inc. now owns 36,200 shares of the financial services provider's stock valued at $1,112,000 after purchasing an additional 13,638 shares in the last quarter. TD Asset Management Inc. boosted its holdings in Manulife Financial by 0.7% during the fourth quarter. TD Asset Management Inc. now owns 34,803,859 shares of the financial services provider's stock valued at $1,068,654,000 after purchasing an additional 228,863 shares in the last quarter. Finally, TIAA Trust National Association boosted its holdings in shares of Manulife Financial by 5.0% in the 4th quarter. TIAA Trust National Association now owns 8,419 shares of the financial services provider's stock worth $259,000 after acquiring an additional 404 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Morgan Stanley set a $46.00 target price on Manulife Financial in a report on Monday, May 19th.

Manulife Financial Stock Up 0.6%

Shares of MFC traded up $0.20 during trading hours on Friday, reaching $31.34. The stock had a trading volume of 471,131 shares, compared to its average volume of 2,299,761. Manulife Financial Corp has a 52 week low of $23.30 and a 52 week high of $33.07. The firm has a 50-day moving average of $31.35 and a 200 day moving average of $30.52. The company has a market cap of $53.52 billion, a P/E ratio of 16.41, a P/E/G ratio of 1.06 and a beta of 0.99.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its quarterly earnings data 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 firm had revenue of $1.49 billion during the quarter. Manulife Financial had a net margin of 9.58% and a return on equity of 15.84%. During the same period in the prior year, the company posted $0.94 EPS. As a group, equities analysts expect that Manulife Financial Corp will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Wednesday, May 21st were paid a $0.3194 dividend. This is an increase from Manulife Financial's previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a yield of 4.08%. The ex-dividend date was Wednesday, May 21st. Manulife Financial's dividend payout ratio (DPR) is 66.49%.

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.