Deutsche Bank AG Purchases 153,072 Shares of Manulife Financial Corp $MFC

Deutsche Bank AG grew its position in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 4.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,619,502 shares of the financial services provider's stock after buying an additional 153,072 shares during the quarter. Deutsche Bank AG owned 0.22% of Manulife Financial worth $146,626,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Basepoint Wealth LLC acquired a new stake in shares of Manulife Financial during the 4th quarter worth approximately $25,000. Hantz Financial Services Inc. bought a new position in Manulife Financial in the fourth quarter valued at approximately $28,000. Sfam LLC acquired a new position in Manulife Financial during the fourth quarter valued at approximately $28,000. Heritage Wealth Advisors acquired a new position in Manulife Financial during the fourth quarter valued at approximately $30,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Manulife Financial during the first quarter worth $29,000. Institutional investors own 52.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MFC shares. BMO Capital Markets reaffirmed an "outperform" rating on shares of Manulife Financial in a report on Friday, August 7th. Scotiabank reissued an "outperform" rating on shares of Manulife Financial in a report on Friday, August 7th. Weiss Ratings upgraded Manulife Financial from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, August 5th. Royal Bank Of Canada upped their price objective on Manulife Financial from $55.00 to $67.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. Finally, Zacks Research cut Manulife Financial from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $59.00.

Manulife Financial Price Performance

Shares of NYSE:MFC opened at $43.49 on Thursday. The company has a market cap of $72.28 billion, a price-to-earnings ratio of 16.23 and a beta of 0.84. The firm has a 50 day simple moving average of $42.38 and a 200 day simple moving average of $38.84. Manulife Financial Corp has a one year low of $29.70 and a one year high of $45.33.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.01. The firm had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $7.28 billion. Manulife Financial had a net margin of 9.99% and a return on equity of 16.68%. The company's revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 earnings per share. As a group, analysts expect that Manulife Financial Corp will post 3.03 EPS for the current year.

Manulife Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Friday, August 21st will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.94 annualized dividend and a dividend yield of 4.5%. Manulife Financial's dividend payout ratio (DPR) is 53.36%.

Manulife Financial Company Profile

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.

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