Manulife Financial Corp (NYSE:MFC) Shares Sold by Swiss National Bank

Key Points

• The Swiss National Bank reduced its stake in Manulife Financial Corp by 3.6%, selling 186,300 shares, leaving it with 4.92 million shares valued at approximately $153.4 million.
• Manulife Financial reported a quarterly earnings per share (EPS) of $0.69, missing the consensus estimate of $0.71, and had a return on equity of 15.77%.
• The company declared a quarterly dividend of $0.3199 per share, maintaining a yield of 4.3%, with the payout ratio at 67.02%.

Swiss National Bank reduced its holdings in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 3.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,920,000 shares of the financial services provider's stock after selling 186,300 shares during the period. Swiss National Bank owned about 0.29% of Manulife Financial worth $153,416,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Lazard Asset Management LLC purchased a new stake in shares of Manulife Financial in the 4th quarter valued at $35,000. Transce3nd LLC purchased a new stake in shares of Manulife Financial in the 4th quarter valued at $42,000. NBC Securities Inc. boosted its holdings in shares of Manulife Financial by 178,700.0% in the 1st quarter. NBC Securities Inc. now owns 1,788 shares of the financial services provider's stock valued at $55,000 after acquiring an additional 1,787 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Manulife Financial in the 1st quarter valued at $59,000. Finally, Ancora Advisors LLC boosted its holdings in shares of Manulife Financial by 34.7% in the 4th quarter. Ancora Advisors LLC now owns 1,943 shares of the financial services provider's stock valued at $60,000 after acquiring an additional 500 shares during the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Stock Performance

Shares of MFC traded up $0.33 during trading hours on Wednesday, hitting $30.48. The stock had a trading volume of 574,734 shares, compared to its average volume of 2,278,522. The firm has a 50-day moving average price of $31.12 and a 200 day moving average price of $30.54. Manulife Financial Corp has a fifty-two week low of $25.45 and a fifty-two week high of $33.07. The firm has a market capitalization of $51.78 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 1.02 and a beta of 1.01.

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

Manulife Financial Increases Dividend

The business 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 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 yield of 4.2%. The ex-dividend date is Wednesday, August 20th. Manulife Financial's dividend payout ratio (DPR) is currently 56.70%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MFC. Morgan Stanley set a $46.00 target price on shares of Manulife Financial in a research note on Monday, May 19th. Royal Bank Of Canada decreased their target price 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, August 8th.

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.