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

Several other large investors have also made changes to their positions in MFC. Lazard Asset Management LLC acquired a new position in Manulife Financial during the fourth quarter worth $35,000. William B. Walkup & Associates Inc. bought a new stake in shares of Manulife Financial during the 1st quarter valued at about $43,000. NBC Securities Inc. raised its stake in shares of Manulife Financial by 178,700.0% in the first 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 bought a new position in Manulife Financial during the first quarter valued at $59,000. Finally, Alpine Bank Wealth Management purchased a new stake in Manulife Financial during the first quarter valued at about $71,000. Institutional investors own 52.56% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Morgan Stanley set a $48.00 price objective on Manulife Financial in a research report on Monday, August 18th. Royal Bank Of Canada reduced their price objective on Manulife Financial from $51.00 to $49.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $48.50.

Manulife Financial Stock Performance

Shares of Manulife Financial stock traded up $0.09 during trading on Monday, hitting $31.67. 306,858 shares of the company's stock were exchanged, compared to its average volume of 2,280,128. The stock has a market capitalization of $53.66 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 1.06 and a beta of 0.99. The business has a 50-day simple moving average of $30.78 and a 200-day simple moving average of $30.68. Manulife Financial Corp has a 52-week low of $25.92 and a 52-week high of $33.07.

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

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Wednesday, August 20th were given a $0.3199 dividend. This is a boost from Manulife Financial's previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Wednesday, August 20th. Manulife Financial's dividend payout ratio (DPR) is presently 56.70%.

About Manulife Financial

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.