Nuveen Asset Management LLC Sells 12,884 Shares of Manulife Financial Co. (NYSE:MFC)

Nuveen Asset Management LLC lessened its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,264,961 shares of the financial services provider's stock after selling 12,884 shares during the period. Nuveen Asset Management LLC owned approximately 0.13% of Manulife Financial worth $69,546,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MFC. Barclays PLC boosted its stake in shares of Manulife Financial by 60.1% in the 3rd quarter. Barclays PLC now owns 741,764 shares of the financial services provider's stock worth $21,919,000 after buying an additional 278,307 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Manulife Financial by 1,067.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 686,418 shares of the financial services provider's stock worth $21,080,000 after buying an additional 627,614 shares during the last quarter. Park Avenue Securities LLC boosted its stake in shares of Manulife Financial by 34.2% in the 4th quarter. Park Avenue Securities LLC now owns 22,845 shares of the financial services provider's stock worth $702,000 after buying an additional 5,824 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Manulife Financial in the 4th quarter worth approximately $410,000. Finally, Avanza Fonder AB purchased a new position in shares of Manulife Financial in the 4th quarter worth approximately $3,410,000. Hedge funds and other institutional investors own 52.56% of the company's stock.

Manulife Financial Trading Up 0.9%

Shares of NYSE:MFC traded up $0.27 during mid-day trading on Friday, reaching $31.21. The company had a trading volume of 1,162,044 shares, compared to its average volume of 2,162,423. The firm has a market cap of $53.45 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 1.11 and a beta of 1.00. The company's 50-day moving average price is $30.27 and its 200-day moving average price is $30.58. Manulife Financial Co. has a one year low of $23.30 and a one year high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its earnings results on Wednesday, May 7th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter. During the same quarter last year, the firm earned $0.94 earnings per share. On average, research analysts anticipate that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Wednesday, May 21st will be issued 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 is Wednesday, May 21st. This represents a $1.28 dividend on an annualized basis and a yield of 4.09%. Manulife Financial's payout ratio is presently 63.87%.

Analyst Upgrades and Downgrades

MFC has been the topic of a number of research reports. Morgan Stanley set a $46.00 price target on shares of Manulife Financial in a report on Monday. Scotiabank reaffirmed an "outperform" rating on shares of Manulife Financial in a report on Monday, February 3rd. Finally, Royal Bank of Canada lifted their price target on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. One investment 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. Based on data from MarketBeat.com, Manulife Financial has a consensus rating of "Buy" and a consensus price target of $45.67.

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.