Manulife Financial Corp (NYSE:MFC) Shares Acquired by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ has increased its position in Manulife Financial Corp by 1.0%, holding a total of 1,406,870 shares worth approximately $43.8 million as of the latest quarter.
• Manulife Financial reported $0.69 earnings per share (EPS) for the last quarter, missing analyst expectations by $0.01, with revenue of $1.49 billion.
• The company has announced a quarterly dividend increase to $0.3194 per share, yielding 4.10%, and has a current payout ratio of 66.49%.

Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 1.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,406,870 shares of the financial services provider's stock after buying an additional 13,900 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.08% of Manulife Financial worth $43,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. FIL Ltd lifted its holdings in Manulife Financial by 21.7% during the 4th quarter. FIL Ltd now owns 39,610,614 shares of the financial services provider's stock worth $1,216,880,000 after buying an additional 7,053,066 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Manulife Financial by 0.9% in the 4th quarter. Mackenzie Financial Corp now owns 24,614,416 shares of the financial services provider's stock valued at $755,367,000 after purchasing an additional 230,105 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Manulife Financial by 4.1% in the 4th quarter. Toronto Dominion Bank now owns 22,812,909 shares of the financial services provider's stock valued at $699,948,000 after purchasing an additional 902,466 shares during the last quarter. Norges Bank purchased a new stake in shares of Manulife Financial in the 4th quarter valued at about $654,751,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Manulife Financial by 28.7% in the 4th quarter. Geode Capital Management LLC now owns 10,650,598 shares of the financial services provider's stock valued at $333,291,000 after purchasing an additional 2,377,338 shares during the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley set a $46.00 target price on Manulife Financial in a report on Monday, May 19th.

Manulife Financial Stock Up 0.4%

MFC stock traded up $0.14 during trading on Monday, hitting $31.46. The company had a trading volume of 2,098,626 shares, compared to its average volume of 2,302,573. The firm has a market cap of $53.73 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 1.06 and a beta of 0.99. Manulife Financial Corp has a 1-year low of $23.30 and a 1-year high of $33.07. The firm has a 50-day moving average price of $31.33 and a 200-day moving average price of $30.52.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its 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). Manulife Financial had a return on equity of 15.84% and a net margin of 9.58%. The business had revenue of $1.49 billion for the quarter. During the same quarter last year, the firm earned $0.94 EPS. Sell-side analysts anticipate that Manulife Financial Corp will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Wednesday, May 21st were given a dividend of $0.3194 per share. This is a boost from Manulife Financial's previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $1.28 annualized dividend and a yield of 4.06%. Manulife Financial's payout ratio is presently 66.49%.

Manulife Financial 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.