Mn Services Vermogensbeheer B.V. Has $20.56 Million Stock Holdings in Manulife Financial Corp $MFC

Key Points

• Mn Services Vermogensbeheer B.V. reduced its stake in Manulife Financial by 1.9% in Q2, now holding 644,237 shares valued at approximately $20.56 million.
• Institutional investors own 52.56% of Manulife’s stock, with significant increases in stakes from firms like Goldman Sachs and Canada Pension Plan Investment Board.
• Manulife Financial recently announced a quarterly dividend of $0.3199, slightly increasing from the previous quarter's dividend, with a yield of 4.1%.

Mn Services Vermogensbeheer B.V. decreased its stake in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 644,237 shares of the financial services provider's stock after selling 12,700 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Manulife Financial were worth $20,557,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in MFC. Lazard Asset Management LLC bought a new stake in shares of Manulife Financial in the 4th quarter worth approximately $35,000. William B. Walkup & Associates Inc. bought a new stake in shares of Manulife Financial in the 1st quarter worth approximately $43,000. NBC Securities Inc. lifted its holdings in shares of Manulife Financial by 178,700.0% in the 1st quarter. NBC Securities Inc. now owns 1,788 shares of the financial services provider's stock worth $55,000 after purchasing an additional 1,787 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in Manulife Financial in the 1st quarter valued at approximately $59,000. Finally, Alpine Bank Wealth Management acquired a new stake in Manulife Financial in the 1st quarter valued at approximately $71,000. Institutional investors own 52.56% of the company's stock.

Wall Street Analyst Weigh In

MFC has been the topic of several analyst reports. Morgan Stanley set a $48.00 target price on Manulife Financial in a research report on Monday, August 18th. 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 report on Friday, August 8th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $48.50.

Manulife Financial Trading Up 0.5%

Shares of NYSE MFC traded up $0.16 during mid-day trading on Monday, reaching $31.74. The company had a trading volume of 1,524,441 shares, compared to its average volume of 1,778,316. The stock has a market cap of $53.78 billion, a PE ratio of 14.17, a P/E/G ratio of 1.06 and a beta of 0.99. The company has a 50-day moving average price of $30.81 and a two-hundred day moving average price of $30.70. Manulife Financial Corp has a 1-year low of $25.92 and a 1-year high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its 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 during the quarter. Manulife Financial had a return on equity of 15.77% and a net margin of 10.46%.During the same quarter last year, the firm earned $0.91 EPS. On average, research analysts expect that Manulife Financial Corp will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Wednesday, August 20th were given a $0.3199 dividend. This represents a $1.28 annualized dividend and a dividend yield of 4.0%. This is a boost from Manulife Financial's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, August 20th. Manulife Financial's payout ratio is 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.