MUFG Securities EMEA plc Has $21.81 Million Position in Manulife Financial Corp (NYSE:MFC)

Key Points

• MUFG Securities EMEA plc significantly reduced its holdings in Manulife Financial Corp, cutting its position by 66.7% to 700,000 shares in the first quarter.
• Manulife Financial recently reported a missed earnings estimate for the quarter with $0.69 EPS, falling short of the $0.71 forecast from analysts.
• The company declared a quarterly dividend of $0.3199, representing an annualized yield of 4.3%, which shows an increase from their previous dividend payout.

MUFG Securities EMEA plc decreased its holdings in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 66.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 700,000 shares of the financial services provider's stock after selling 1,400,000 shares during the quarter. Manulife Financial accounts for about 0.5% of MUFG Securities EMEA plc's investment portfolio, making the stock its 16th biggest position. MUFG Securities EMEA plc's holdings in Manulife Financial were worth $21,805,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. TD Asset Management Inc lifted its position in Manulife Financial by 6.6% during the 1st quarter. TD Asset Management Inc now owns 37,093,064 shares of the financial services provider's stock worth $1,155,639,000 after acquiring an additional 2,289,205 shares during the period. Canada Pension Plan Investment Board raised its stake in Manulife Financial by 42.1% in the 4th quarter. Canada Pension Plan Investment Board now owns 7,427,745 shares of the financial services provider's stock valued at $227,895,000 after purchasing an additional 2,200,000 shares during the last quarter. Jupiter Asset Management Ltd. boosted its holdings in shares of Manulife Financial by 871.5% during the 1st quarter. Jupiter Asset Management Ltd. now owns 2,023,966 shares of the financial services provider's stock worth $63,057,000 after purchasing an additional 1,815,642 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Manulife Financial by 1,113.7% in the first quarter. Bessemer Group Inc. now owns 1,086,145 shares of the financial services provider's stock valued at $33,878,000 after acquiring an additional 996,656 shares during the last quarter. Finally, Bank of Nova Scotia lifted its stake in Manulife Financial by 7.2% during the first quarter. Bank of Nova Scotia now owns 13,990,810 shares of the financial services provider's stock worth $436,007,000 after purchasing an additional 937,794 shares in the last quarter. Institutional investors own 52.56% of the company's stock.

Manulife Financial Trading Down 0.7%

NYSE MFC traded down $0.20 on Monday, hitting $29.89. 2,021,756 shares of the stock traded hands, compared to its average volume of 2,010,827. The stock has a 50-day moving average of $31.20 and a 200 day moving average of $30.55. Manulife Financial Corp has a twelve month low of $24.94 and a twelve month high of $33.07. The company has a market capitalization of $50.76 billion, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 1.02 and a beta of 1.01.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.69 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.02). Manulife Financial had a net margin of 10.46% and a return on equity of 15.77%. The firm had revenue of $11.30 billion during the quarter. During the same quarter in the prior year, the firm earned $0.91 EPS. As a group, equities research analysts expect that Manulife Financial Corp will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, August 20th will be given a dividend of $0.3199 per share. This represents a $1.28 annualized dividend and a yield of 4.3%. The ex-dividend date is Wednesday, August 20th. This is a positive change from Manulife Financial's previous quarterly dividend of $0.32. Manulife Financial's dividend payout ratio is presently 57.14%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Morgan Stanley set a $46.00 price objective on Manulife Financial in a research report on Monday, May 19th. Royal Bank Of Canada dropped their price objective on shares of Manulife Financial from $51.00 to $49.00 and set an "outperform" rating for the company in a research note on Friday.

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.