ASR Vermogensbeheer N.V. Takes $2.19 Million Position in Manulife Financial Corp (NYSE:MFC)

Key Points

• ASR Vermogensbeheer N.V. invested approximately $2.19 million in Manulife Financial Corp, acquiring 70,190 shares of the company during the first quarter.
• Manulife Financial recently reported an EPS of $0.69 for the quarter, falling short of the consensus estimate of $0.71 by $0.02.
• The company announced a quarterly dividend of $0.3199 per share, reflecting a 4.3% dividend yield, an increase from the previous dividend of $0.32.

ASR Vermogensbeheer N.V. acquired a new stake in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 70,190 shares of the financial services provider's stock, valued at approximately $2,187,000.

A number of other hedge funds have also recently modified their holdings of MFC. JCIC Asset Management Inc. boosted its holdings in Manulife Financial by 5.6% in the 1st quarter. JCIC Asset Management Inc. now owns 6,749 shares of the financial services provider's stock worth $210,000 after buying an additional 360 shares during the period. Blair William & Co. IL boosted its holdings in Manulife Financial by 1.9% in the 1st quarter. Blair William & Co. IL now owns 19,878 shares of the financial services provider's stock worth $619,000 after buying an additional 377 shares during the period. Pacer Advisors Inc. boosted its holdings in Manulife Financial by 3.0% in the 1st quarter. Pacer Advisors Inc. now owns 15,405 shares of the financial services provider's stock worth $480,000 after buying an additional 444 shares during the period. Napatree Capital LLC boosted its holdings in Manulife Financial by 4.7% in the 1st quarter. Napatree Capital LLC now owns 10,279 shares of the financial services provider's stock worth $320,000 after buying an additional 465 shares during the period. Finally, Ancora Advisors LLC boosted its holdings in Manulife Financial by 34.7% in the 4th quarter. Ancora Advisors LLC now owns 1,943 shares of the financial services provider's stock worth $60,000 after buying an additional 500 shares during the period. Institutional investors own 52.56% of the company's stock.

Manulife Financial Price Performance

Shares of Manulife Financial stock traded up $0.37 during trading on Wednesday, reaching $30.52. 519,061 shares of the stock traded hands, compared to its average volume of 2,278,364. The company has a market capitalization of $51.83 billion, a price-to-earnings ratio of 13.63, a P/E/G ratio of 1.02 and a beta of 1.01. The business has a fifty day simple moving average of $31.12 and a two-hundred day simple moving average of $30.54. Manulife Financial Corp has a 52-week low of $25.45 and a 52-week high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.69 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.02). The firm had revenue of $11.30 billion for the quarter. Manulife Financial had a net margin of 10.46% and a return on equity of 15.77%. During the same period last year, the firm posted $0.91 EPS. On average, 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 announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Wednesday, August 20th will be given a dividend of $0.3199 per share. The ex-dividend date is Wednesday, August 20th. This represents a $1.28 annualized dividend and a dividend yield of 4.2%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.32. Manulife Financial's dividend payout ratio is currently 56.70%.

Analysts Set New Price Targets

Several research analysts recently weighed in on MFC shares. Morgan Stanley set a $46.00 target price on shares of Manulife Financial in a report on Monday, May 19th. Royal Bank Of Canada cut their price objective on Manulife Financial from $51.00 to $49.00 and set an "outperform" rating for the company in a research report on Friday, August 8th.

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.