Nuveen Asset Management LLC Has $69.55 Million Stock Position in Manulife Financial Co. (NYSE:MFC)

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

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Crews Bank & Trust bought a new position in Manulife Financial in the fourth quarter worth about $26,000. Lee Danner & Bass Inc. bought a new stake in Manulife Financial in the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Manulife Financial in the 4th quarter worth $34,000. Golden State Wealth Management LLC purchased a new stake in Manulife Financial in the 4th quarter worth approximately $35,000. Finally, Lazard Asset Management LLC bought a new position in Manulife Financial in the 4th quarter worth $35,000. 52.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Scotiabank reiterated an "outperform" rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada raised their price target on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. One equities research 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 stock. According to MarketBeat, Manulife Financial currently has a consensus rating of "Buy" and a consensus target price of $45.50.

Manulife Financial Trading Down 0.7%

Shares of NYSE MFC traded down $0.24 during trading hours on Tuesday, reaching $31.83. The stock had a trading volume of 11,079,555 shares, compared to its average volume of 2,177,529. The firm has a market cap of $54.52 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 1.11 and a beta of 1.00. Manulife Financial Co. has a fifty-two week low of $23.30 and a fifty-two week high of $33.07. The firm has a 50-day moving average of $30.13 and a 200-day moving average of $30.56.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.69 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.01). Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The business had revenue of $1.49 billion during the quarter. During the same quarter in the previous year, the company earned $0.94 EPS. On average, equities analysts predict that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.3194 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.01%. This is an increase from Manulife Financial's previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, May 21st. Manulife Financial's dividend payout ratio is 63.87%.

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.