Manulife Financial Co. (NYSE:MFC) Stake Lowered by BNP Paribas Financial Markets

BNP Paribas Financial Markets trimmed its position in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 44.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,777 shares of the financial services provider's stock after selling 22,604 shares during the period. BNP Paribas Financial Markets' holdings in Manulife Financial were worth $853,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Ancora Advisors LLC lifted its holdings in shares of Manulife Financial by 34.7% in the 4th quarter. Ancora Advisors LLC now owns 1,943 shares of the financial services provider's stock valued at $60,000 after buying an additional 500 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in Manulife Financial by 12.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 35,996 shares of the financial services provider's stock valued at $1,105,000 after buying an additional 4,112 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in shares of Manulife Financial by 9.2% during the fourth quarter. Rehmann Capital Advisory Group now owns 7,566 shares of the financial services provider's stock valued at $232,000 after acquiring an additional 635 shares during the last quarter. Triumph Capital Management boosted its stake in shares of Manulife Financial by 16.0% during the 4th quarter. Triumph Capital Management now owns 13,297 shares of the financial services provider's stock worth $408,000 after purchasing an additional 1,833 shares during the last quarter. Finally, Lido Advisors LLC grew its stake in Manulife Financial by 199.2% in the 4th quarter. Lido Advisors LLC now owns 37,732 shares of the financial services provider's stock worth $1,159,000 after acquiring an additional 25,123 shares during the period. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Trading Up 1.8%

NYSE MFC traded up $0.55 on Tuesday, hitting $31.76. 1,278,628 shares of the stock traded hands, compared to its average volume of 2,144,487. The company has a market capitalization of $54.40 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 1.11 and a beta of 1.00. The stock has a 50-day moving average of $30.31 and a 200 day moving average of $30.57. Manulife Financial Co. has a twelve month low of $23.30 and a twelve 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.01). The firm 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 prior year, the company posted $0.94 earnings per share. As a group, equities research analysts expect that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Wednesday, May 21st will be given a $0.3194 dividend. This is an increase from Manulife Financial's previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Wednesday, May 21st. Manulife Financial's dividend payout ratio (DPR) is presently 63.87%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Royal Bank of Canada upped their target price on Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a research note on Friday, February 21st. Scotiabank reaffirmed an "outperform" rating on shares of Manulife Financial in a research note on Monday, February 3rd. Finally, Morgan Stanley set a $46.00 target price on Manulife Financial in a research note on Monday, May 19th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Manulife Financial has a consensus rating of "Buy" and an average target price of $45.67.

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.