Vontobel Holding Ltd. Has $10.01 Million Position in Manulife Financial Corp (NYSE:MFC)

Vontobel Holding Ltd. cut its stake in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 22.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 321,177 shares of the financial services provider's stock after selling 91,482 shares during the period. Vontobel Holding Ltd.'s holdings in Manulife Financial were worth $10,009,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Lee Danner & Bass Inc. purchased a new stake in Manulife Financial during the fourth quarter worth about $31,000. Lazard Asset Management LLC purchased a new position in Manulife Financial in the 4th quarter valued at about $35,000. Transce3nd LLC purchased a new position in shares of Manulife Financial during the fourth quarter valued at approximately $42,000. Millstone Evans Group LLC purchased a new stake in shares of Manulife Financial in the fourth quarter valued at $44,000. Finally, Graney & King LLC acquired a new position in shares of Manulife Financial during the 4th quarter valued at about $53,000. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Stock Performance

Shares of MFC stock traded up $0.17 during mid-day trading on Thursday, hitting $31.62. 936,889 shares of the stock traded hands, compared to its average volume of 2,168,203. Manulife Financial Corp has a twelve month low of $23.30 and a twelve month high of $33.07. The firm has a market cap of $54.01 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99. The company's 50-day simple moving average is $31.44 and its 200-day simple moving average is $30.49.

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 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.01). Manulife Financial had a net margin of 9.58% and a return on equity of 15.84%. The firm had revenue of $1.49 billion during the quarter. During the same quarter in the prior year, the business earned $0.94 EPS. Analysts forecast 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 was paid on Thursday, June 19th. Stockholders of record on Wednesday, May 21st were paid a $0.3194 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.04%. This is a boost from Manulife Financial's previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Wednesday, May 21st. Manulife Financial's payout ratio is presently 67.02%.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley set a $46.00 target price on Manulife Financial in a report on Monday, May 19th.

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.