Manulife Financial Co. (NYSE:MFC) Stock Holdings Reduced by Man Group plc

Man Group plc lessened its holdings in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 40.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,397,139 shares of the financial services provider's stock after selling 948,168 shares during the period. Man Group plc owned 0.08% of Manulife Financial worth $42,905,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MFC. Dorsey & Whitney Trust CO LLC acquired a new stake in Manulife Financial in the 4th quarter valued at approximately $330,000. AEGON ASSET MANAGEMENT UK Plc increased its holdings 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 valued at $2,719,000 after purchasing an additional 11,509 shares during the period. Geode Capital Management LLC raised its stake in shares of Manulife Financial by 28.7% during 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 purchasing an additional 2,377,338 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Manulife Financial by 60.4% in the fourth quarter. Prudential Financial Inc. now owns 36,200 shares of the financial services provider's stock worth $1,112,000 after purchasing an additional 13,638 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Manulife Financial by 4.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,809,774 shares of the financial services provider's stock valued at $55,578,000 after buying an additional 81,799 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Stock Performance

NYSE MFC traded down $0.17 on Tuesday, reaching $31.91. The company's stock had a trading volume of 9,746,535 shares, compared to its average volume of 2,192,180. Manulife Financial Co. has a twelve month low of $23.30 and a twelve month high of $33.07. The firm's 50 day moving average is $30.13 and its two-hundred day moving average is $30.56. The stock has a market cap of $54.64 billion, a PE ratio of 15.42, a PEG ratio of 1.11 and a beta of 1.00.

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 for the quarter, missing analysts' consensus estimates of $0.70 by ($0.01). The business had revenue of $1.49 billion for the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. During the same period last year, the firm earned $0.94 EPS. Equities research analysts anticipate that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Wednesday, May 21st will be given a $0.3194 dividend. This is a positive change from Manulife Financial's previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, May 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.00%. Manulife Financial's dividend payout ratio (DPR) is 63.87%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Royal Bank of Canada boosted 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. Scotiabank reissued an "outperform" rating on shares of Manulife Financial in a report on Monday, February 3rd. One 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 data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $45.50.

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.