Mn Services Vermogensbeheer B.V. Sells 56,700 Shares of Manulife Financial Co. (NYSE:MFC)

Mn Services Vermogensbeheer B.V. lessened its position in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 7.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 656,937 shares of the financial services provider's stock after selling 56,700 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Manulife Financial were worth $20,467,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Dorsey & Whitney Trust CO LLC acquired a new position in Manulife Financial during the fourth quarter valued at approximately $330,000. Geode Capital Management LLC raised its stake in shares of Manulife Financial by 28.7% during the 4th quarter. Geode Capital Management LLC now owns 10,650,598 shares of the financial services provider's stock worth $333,291,000 after purchasing an additional 2,377,338 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of Manulife Financial by 60.4% in the 4th quarter. Prudential Financial Inc. now owns 36,200 shares of the financial services provider's stock valued at $1,112,000 after buying an additional 13,638 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Manulife Financial by 4.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,809,774 shares of the financial services provider's stock worth $55,578,000 after buying an additional 81,799 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Manulife Financial during the fourth quarter worth $16,213,000. Institutional investors own 52.56% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MFC. Morgan Stanley set a $46.00 price objective on Manulife Financial in a research report on Monday, May 19th. Royal Bank of Canada lifted their price objective on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $45.67.

Manulife Financial Price Performance

MFC traded up $0.01 during trading on Monday, hitting $31.19. The stock had a trading volume of 3,123,348 shares, compared to its average volume of 2,142,059. The company has a 50 day moving average price of $30.73 and a 200-day moving average price of $30.52. Manulife Financial Co. has a one year low of $23.30 and a one year high of $33.07. The firm has a market cap of $53.43 billion, a price-to-earnings ratio of 15.07, a P/E/G ratio of 1.11 and a beta of 1.01.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.69 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.01). Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The business had revenue of $1.49 billion during the quarter. During the same quarter in the previous year, the business earned $0.94 EPS. As a group, sell-side analysts predict that Manulife Financial Co. will post 2.87 EPS for the current fiscal 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 represents a $1.28 dividend on an annualized basis and a dividend yield of 4.10%. This is an increase from Manulife Financial's previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, May 21st. Manulife Financial's payout ratio is presently 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.