DekaBank Deutsche Girozentrale Sells 109,725 Shares of Manulife Financial Co. (NYSE:MFC)

DekaBank Deutsche Girozentrale reduced its holdings in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,888,416 shares of the financial services provider's stock after selling 109,725 shares during the period. DekaBank Deutsche Girozentrale owned 0.10% of Manulife Financial worth $41,285,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Manulife Financial in the third quarter worth $27,000. Anchor Investment Management LLC purchased a new stake in Manulife Financial during the 4th quarter valued at about $27,000. Sanctuary Wealth Management L.L.C. bought a new stake in Manulife Financial during the 4th quarter valued at about $27,000. Trust Co. of Vermont lifted its stake in shares of Manulife Financial by 478.5% in the third quarter. Trust Co. of Vermont now owns 1,533 shares of the financial services provider's stock worth $28,000 after buying an additional 1,268 shares in the last quarter. Finally, Arlington Trust Co LLC bought a new position in shares of Manulife Financial in the third quarter worth approximately $29,000. Hedge funds and other institutional investors own 52.56% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MFC shares. Royal Bank of Canada upgraded shares of Manulife Financial from a "sector perform" rating to an "outperform" rating in a report on Tuesday, December 12th. TheStreet upgraded Manulife Financial from a "c+" rating to a "b" rating in a research note on Thursday, December 21st. Jefferies Financial Group assumed coverage on Manulife Financial in a research report on Thursday, February 22nd. They set a "buy" rating on the stock. BMO Capital Markets raised Manulife Financial from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $31.00 to $35.00 in a research report on Thursday, February 15th. Finally, Desjardins raised shares of Manulife Financial from a "hold" rating to a "buy" rating in a report on Thursday, February 15th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $33.33.

Manulife Financial Price Performance

Shares of MFC traded up $0.09 during trading hours on Friday, hitting $24.39. The stock had a trading volume of 1,926,822 shares, compared to its average volume of 2,739,550. The firm has a market capitalization of $43.93 billion, a PE ratio of 12.64, a PEG ratio of 0.90 and a beta of 1.08. Manulife Financial Co. has a 12 month low of $17.07 and a 12 month high of $25.14. The stock has a fifty day moving average price of $23.73 and a 200 day moving average price of $21.12.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its earnings results on Wednesday, February 14th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.05. Manulife Financial had a return on equity of 15.98% and a net margin of 10.42%. The business had revenue of $10.96 billion for the quarter, compared to analysts' expectations of $7.57 billion. As a group, analysts anticipate that Manulife Financial Co. will post 2.71 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, February 28th were paid a dividend of $0.298 per share. This represents a $1.19 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend was Tuesday, February 27th. This is a boost from Manulife Financial's previous quarterly dividend of $0.26. Manulife Financial's dividend payout ratio (DPR) is currently 61.66%.

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.