Aviso Financial Inc. Has $4.48 Million Stock Holdings in Manulife Financial Corp $MFC

Key Points

• Aviso Financial Inc. reduced its stake in Manulife Financial Corp by 14.1%, holding 143,562 shares worth approximately $4.48 million after selling 23,618 shares in the first quarter.
• The quarterly earnings report for Manulife showed an EPS of $0.69, missing the consensus estimate of $0.71, with a revenue of $11.30 billion.
• Manulife Financial announced a quarterly dividend increase to $0.3199 per share, yielding 4.2%, up from the previous dividend of $0.32.

Aviso Financial Inc. decreased its holdings in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 14.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 143,562 shares of the financial services provider's stock after selling 23,618 shares during the period. Aviso Financial Inc.'s holdings in Manulife Financial were worth $4,475,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MFC. TD Asset Management Inc raised its stake in Manulife Financial by 6.6% in the first quarter. TD Asset Management Inc now owns 37,093,064 shares of the financial services provider's stock valued at $1,155,639,000 after buying an additional 2,289,205 shares during the period. Jupiter Asset Management Ltd. raised its stake in Manulife Financial by 871.5% in the first quarter. Jupiter Asset Management Ltd. now owns 2,023,966 shares of the financial services provider's stock valued at $63,057,000 after buying an additional 1,815,642 shares during the period. Nuveen LLC bought a new stake in Manulife Financial in the first quarter valued at approximately $43,445,000. Bessemer Group Inc. increased its stake in shares of Manulife Financial by 1,113.7% during the first quarter. Bessemer Group Inc. now owns 1,086,145 shares of the financial services provider's stock worth $33,878,000 after purchasing an additional 996,656 shares during the period. Finally, AGF Management Ltd. increased its stake in shares of Manulife Financial by 63.7% during the first quarter. AGF Management Ltd. now owns 2,433,140 shares of the financial services provider's stock worth $75,792,000 after purchasing an additional 947,057 shares during the period. Institutional investors own 52.56% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Royal Bank Of Canada lowered their target price on Manulife Financial from $51.00 to $49.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Morgan Stanley set a $48.00 target price on Manulife Financial in a research note on Monday. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $48.50.

Manulife Financial Price Performance

NYSE:MFC traded up $0.6650 during trading hours on Friday, reaching $30.7250. 1,586,158 shares of the company were exchanged, compared to its average volume of 2,574,389. The company has a market capitalization of $52.19 billion, a P/E ratio of 13.72, a P/E/G ratio of 1.00 and a beta of 1.01. Manulife Financial Corp has a 1-year low of $25.92 and a 1-year high of $33.07. The business has a 50 day moving average of $30.87 and a 200 day moving average of $30.56.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.02). The company had revenue of $11.30 billion for the quarter. Manulife Financial had a return on equity of 15.77% and a net margin of 10.46%.During the same quarter in the prior year, the company earned $0.91 earnings per share. As a group, equities research analysts anticipate that Manulife Financial Corp will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Wednesday, August 20th will be given a dividend of $0.3199 per share. This is an increase from Manulife Financial's previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, August 20th. Manulife Financial's dividend payout ratio (DPR) is currently 56.70%.

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.