UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $62.23 Million Stock Holdings in Manulife Financial Co. (NYSE:MFC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 28.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,026,419 shares of the financial services provider's stock after selling 798,664 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.12% of Manulife Financial worth $62,231,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dorsey & Whitney Trust CO LLC acquired a new stake in Manulife Financial during the 4th quarter valued at approximately $330,000. AEGON ASSET MANAGEMENT UK Plc grew its position in shares of Manulife Financial by 14.9% during the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 88,631 shares of the financial services provider's stock worth $2,719,000 after buying an additional 11,509 shares in the last quarter. Geode Capital Management LLC raised its holdings in Manulife Financial by 28.7% in the fourth quarter. Geode Capital Management LLC now owns 10,650,598 shares of the financial services provider's stock valued at $333,291,000 after acquiring an additional 2,377,338 shares in the last quarter. Prudential Financial Inc. boosted its stake in Manulife Financial by 60.4% during the 4th quarter. Prudential Financial Inc. now owns 36,200 shares of the financial services provider's stock valued at $1,112,000 after acquiring an additional 13,638 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Manulife Financial by 4.7% during the 4th quarter. Bank of New York Mellon Corp now owns 1,809,774 shares of the financial services provider's stock worth $55,578,000 after acquiring an additional 81,799 shares in the last quarter. Hedge funds and other institutional investors own 52.56% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MFC shares. Royal Bank of Canada boosted their price objective on Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a report on Friday, February 21st. Morgan Stanley set a $46.00 price target on Manulife Financial in a report on Monday, May 19th. Finally, Scotiabank reissued an "outperform" rating on shares of Manulife Financial in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Manulife Financial currently has a consensus rating of "Buy" and an average target price of $45.67.

Manulife Financial Stock Down 0.7%

Shares of NYSE:MFC traded down $0.23 during trading on Wednesday, hitting $31.53. 1,513,248 shares of the company traded hands, compared to its average volume of 2,143,849. The business's fifty day moving average is $30.31 and its 200-day moving average is $30.57. The stock has a market capitalization of $54.00 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 1.11 and a beta of 1.00. 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 posted 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). The company had revenue of $1.49 billion during the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. During the same quarter last year, the firm earned $0.94 EPS. On average, analysts forecast that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.3194 per share. The ex-dividend date is Wednesday, May 21st. This is a boost from Manulife Financial's previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a dividend yield of 4.05%. Manulife Financial's dividend payout ratio (DPR) 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.